E.l.f. Beauty ( ELF ) , which owns makeup and skin care brands such as E.l.f. Cosmetics, Rhode, and SKIN, appears to be benefiting from a growing consumer trend.

Recently, cosmetic purchases have been on the rise, especially among Gen Z consumers.

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According to a recent survey from investment bank Piper Sandler, Gen Z shoppers in the U.S. are spending $374 annually on beauty, which is 10% more than what they spent last year. Also, E.l.f. Cosmetics is the No. 1 cosmetics brand among this group of shoppers.

Related: Sephora makes bold move to reverse concerning customer behavior

The increased consumer momentum appears to be translating into E.l.f. Beauty's sales. In its second-quarter earnings report for 2025, th

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