As companies abandon diversity, equity, and inclusion initiatives, e.l.f. Beauty is staying true to the "community that we serve."
The cosmetics company recently held that it would not nix its DEI initiatives, breaking from other major corporations who have rolled them back in the past several months. CEO Tarang Amin told CNN's Erin Burnett that "our diversity is a key competitive advantage in terms of our results."
"Our mission is to make the best of beauty accessible to every eye, lip and face," Amin said. "One of the best ways we know how to live that mission is to have an employee base that reflects the community that we serve."
Amin continued to say that e.l.f.'s employees are "74 percent women, 76 percent Gen Z and millennial, over 44 percent diverse." It is also "one of only two public companies in the U.S. that have a board of directors with 78 percent women and 44 percent diverse."
This has not hindered the company's success but instead helped it grow, as Amin said that "we're one of a few public companies that have had 23 consecutive quarters of net sales growth, averaging at least 20 percent," and are the only cosmetics brand to do so.
Over a dozen major corporations have announced that they would be rolling back their DEI programs in the past year, including Ford Motor Company, Toyota Motor Corp., Harley-Davidson, Lowe's, Tractor Supply, John Deere, and Jack Daniel's.
Notably, many of the companies that have abandoned DEI are behind products largely marketed towards men. Companies that have kept their DEI initiatives and have not faced widespread calls to abandon them are traditionally marketed towards women, including clothing and makeup retailers like Ulta, Macy’s, Old Navy, Nordstrom’s, and TJ Maxx, or grocery chains like Costco, Meijer, and Kroger's.
Many companies' decisions came after conservatives online specifically targeted them for their policies and threatened boycotts. Failed filmmaker turned failed congressional candidate Robby Starbuck has taken credit for spearheading the movement and influencing the companies' decisions, however experts believe that Starbuck's pressure alone does not explain the shift, also pointing to the Trump Administration's hard stance against DEI and the U.S. Supreme Court's ruling against affirmative action.
"I have yet to meet a CEO who didn't want the best possible talent or the best possible performance. Some of these big companies are under tremendous pressure," Amin said, adding, "But most people that I talked to are absolutely committed to having the most diverse, highest performing workforce they can find."
When asked if he feared political retaliation, Amin said: "We can only control what we can control. We have a real commitment to our diversity, our inclusion. I mean, we operate with positivity, inclusivity and accessibility. That's what we're all about."