E.l.f. Beauty Stands Firm on DEI While Other Companies Pull Back

In recent years, many big brands in the U.S. have either scaled back or ended their diversity, equity, and inclusion (DEI) programs due to mounting pressures and criticism. Companies like Amazon, Walmart, Meta, and McDonald’s have adjusted their DEI efforts, wary of becoming the next target of controversy. However, one company is boldly standing its ground: e.l.f. Beauty, the popular cosmetics brand known for its affordable yet high-quality products.

E.l.f. isn’t just continuing its DEI work—it’s celebrating it. At a time when DEI is a contentious topic, e.l.f. has shown how diversity and inclusion can be a powerful driver of success.

The “So Many Dicks” Campaign: A Bold Statement

Last year, e.l.f. sparked conversations with its provocative “So Many Dicks” campaign. The campaign highlighted an eyebrow-raising fact: nearly as many men named Richard, Rick, or Dick sit on corporate boards as women altogether. The message was clear—there’s a lack of diversity at the highest levels of business leadership.

While some criticized the campaign as overly political, many applauded e.l.f.’s courage to address the issue. Comments like “I’ve never loved e.l.f. more!” flooded social media, showcasing the brand’s strong connection with its audience.

E.l.f. CEO Tarang Amin explained the rationale behind the campaign: “There’s nothing wrong with being Richard, Rick, or Dick, but we wanted to shine a light on giving others a chance because we’ve seen the benefits in our own business.”

Why DEI Works for E.l.f.

E.l.f.’s commitment to diversity goes beyond ad campaigns. The company has built an inclusive workforce, with 75% of employees identifying as women and 40% as people of color. Its board is equally impressive, with more than 78% women and 44% people of color—an anomaly in corporate America.

E.l.f. doesn’t even have a dedicated DEI team. Instead, diversity is woven into every aspect of its business. This inclusive approach has not only helped e.l.f. connect with its target audience—mainly Millennials and Gen Z—but has also driven impressive growth. Over the past five years, e.l.f.’s stock has skyrocketed by over 700%, and the company has posted 23 consecutive quarters of sales growth.

Amin credits much of this success to having diverse voices at the table. “Diverse voices actually help us because they’re bringing different perspectives,” he said. “Companies that abandon their diversity efforts risk losing out on incredible talent that adds perspective to a company.”

Why Some Companies Are Pulling Back

Despite e.l.f.’s success, many other companies are retreating from DEI efforts. This shift is partly due to backlash from conservative groups and right-wing activists. For example, Bud Light faced significant criticism and a sharp drop in sales after partnering briefly with a transgender influencer.

Critics of DEI argue that it represents “reverse racism” and prioritizes race and gender over qualifications. Some companies have responded by reducing DEI programs to avoid alienating customers or facing lawsuits.

But for brands like e.l.f., the risks of pulling back outweigh the benefits. Their target audience—young, diverse consumers—strongly supports DEI initiatives. Millennials, Gen Z, women, and minority employees are among the most vocal advocates for workplace diversity, according to Pew Research.

Standing Firm in the Face of Criticism

E.l.f. CEO Tarang Amin isn’t worried about backlash. He knows the brand’s loyal customer base will rally behind it. “Our community is highly vocal and highly loyal,” he said. “It would be a mistake for critics to come after e.l.f. because our customers can be pretty vicious when people go against their beloved brand.”

This loyalty stems from e.l.f.’s ability to resonate with its audience. Unlike older, more traditional beauty brands, e.l.f. has embraced inclusive marketing by featuring transgender and non-binary models in its advertising. This has set it apart in an industry that has often been criticized for a lack of representation.

Other Companies Still Committed to DEI

E.l.f. isn’t alone in defending DEI. Companies like Costco and Apple have also doubled down on their diversity efforts despite criticism.

For example, Costco recently rejected a proposal from a conservative think tank that demanded the company assess the financial risks of its DEI goals. Instead, Costco emphasized how diversity helps attract and retain employees and improves the customer experience. A diverse workforce, the company said, brings creativity and originality to its product offerings.

This sentiment echoes e.l.f.’s philosophy. Amin believes most business leaders still see the value in fostering diversity within their companies. “I think more people are committed to having diverse workforces that are inclusive than there are people who are not,” he said.

Why DEI Still Matters

At its core, DEI isn’t just about checking boxes—it’s about creating opportunities for underrepresented groups and fostering innovation. Diverse teams bring fresh ideas, challenge the status quo, and reflect the real world.

For e.l.f., DEI isn’t just the right thing to do—it’s smart business. The brand’s inclusive approach has helped it thrive in a competitive industry, proving that diversity isn’t a liability; it’s a strength.

As some companies shy away from DEI, e.l.f. stands as a reminder that diversity and inclusion are not just buzzwords—they’re a blueprint for success. And as more consumers seek out brands that align with their values, e.l.f.’s bold stance on DEI will likely keep it ahead of the curve.