Bucking Convention Challenging the industry standard of costly cosmetics, e.l.f. says, "The buck stops here."
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Vital Stats:Scott Vincent Borba, 31, and Joey Shamah, 23, of e.l.f. Cosmetics(Eyes.Lips.Face.)
Company:cosmetics company where every product costs $1
2005 projectedsales: $7 million to $10 million
East MeetsWest: "I've always loved the idea of making peoplefeel and look beautiful on the outside and inside," saysShamah. He was a New York University business student working forhis family's apparel company when, at a party, he met Borba, aLos Angeles beauty-industry veteran who helped launch Hard Candycosmetics along with a handful of re-launches for high-endhair-care and cosmetics lines. Between Shamah's internationalsourcing contacts and Borba's extensive experience, an idea wasborn.
Dollar Daze:After discovering that higher-income consumers shopped at dollarstores, Shamah and Borba saw a perfect opportunity to nestle theircosmetics into the dollar market. Borba says they target thesecustomers by offering "the same benefits, look and ingredientsfor a reasonable price."
CosmeticProcedure: During the month of October, e.l.f. donated 20percent of the proceeds from its Shimmering Facial Whip to helpfund Win Against Breast Cancer's research and services, andprovided makeup in Color Therapy Care Packages to breast cancerpatients in inner-city hospitals in Los Angeles.
