Who is Tarang Amin, the current CEO of e.l.f. Beauty?
Source: Forbes.
If you use makeup, chances are you own at least one product by e.l.f. Beauty. Always famous, the brand has experienced a boom in the last several years, with its stock price and sales skyrocketing beyond expectations. Although nearly everyone is familiar with the brand, few know the CEO behind its renaissance. Who is Tarang Amin, and how did this Indian immigrant by way of Kenya achieve such success?
Background and Immigration to the US
Tarang Amin, a 59-year-old consumer product industry veteran, was born in Kenya to Indian parents and immigrated to the United States when still a child.
Entrepreneurial spirit was clearly in Amin’s DNA. When he was 14, his parents sold their home and used the money to buy a rundown motel. The family moved into the manager’s apartment and remodeled the motel to transform it into a successful enterprise where Amin worked from an early age.
Professional Background
Amin’s early work experience at his parents’ motel taught him the ins and outs of cash flow and economic success, lessons he carried with him after graduating from Duke University’s Fuqua School of Business.
Over time he became the marketing director at Procter & Gamble, working within a team that grew the Pantene hair care brand from $50 million to $2 billion in sales, and then the vice president at The Clorox Company.
Achievements & Contributions to the US Economy
In 2014, Amin became the CEO of e.l.f. Beauty. He took the company public two years later at $17 a share and with only $230 million in revenue. After some difficult and bold decision-making, like shutting down all 26 of the company’s retail stores and using that budget to double down on marketing, e.l.f.’s stock price rose to almost $200 per share, generating $1.02 billion in revenue.
After this huge success, which earned Amin a spot on Barron’s “Top CEOs of 2024” list, he has no plans to slow down. Under his leadership, e.l.f. acquired Naturium, a Gen Z and millennial favorite skincare brand, and plans to expand its own skincare line. Considering the brand’s cult following on social media platforms, this expenditure is sure to bring even more success to Amin’s company.
