E.l.f. Beauty, with 80% of its cosmetics manufactured in China, expressed relief over the new 10% tariff on Chinese imports. CEO Tarang Amin shared with CNBC that the company was initially concerned about potential tariffs as high as 60%. The tariff situation remains uncertain, with no agreement between Beijing and Washington, and China retaliating with measures like blacklisting PVH Corp. E.l.f. Beauty, which previously raised prices on a third of its items by $1 during a 25% tariff, is now in a better position having reduced its reliance on China by about 20%. The company’s international business has grown, and it anticipates the impact of the new tariffs won’t be felt until fiscal year 2026. Amin emphasized the company’s cautious approach to pricing adjustments amidst ongoing trade tensions.
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