The Best One Yet
💄 “Makeup King” — Elf Beauty CEO Tarang Amin’s Interview with TBOY
19 Jan 2026
Chapter 1: What is the main topic discussed in this episode?
Yetis, get ready to get dewy, because today's interview is a glow-up masterclass for your life, your career, maybe even your lashes, because we're hanging out with Tarang Amin, the iconic 12-year CEO of e.l.f. Beauty. e.l.f. Beauty. e.l.f.
Chapter 2: How does e.l.f. Beauty maintain low prices despite inflation?
stands for eyes, lips, and face, and it's sold enough blush to make you blush. e.l.f., it's Gen Z's favorite beauty brand. It's Gen Alpha's top-selling beauty brand. Jen Bader isn't even born yet, but they're probably prepping their elf mascara. Because elf beauty basically invented the dupe. 80% of the value for 20% of the price.
Because as Terang will tell you, duping is actually the moral thing to do. Oh, by the way, elf also bought Hailey Bieber's road beauty for 1 billion bucks last year.
Chapter 3: What is the significance of the $1 billion acquisition of Rhode Skin?
Because Terang can spot what's hot faster than a Kardashian can. No company has democratized an industry like Elf has for your face. Because Terang here has figured out how to sell a $3 lipstick profitably, even during peak inflation. Jack, I'm going to sprinkle on some context. For two and a half years, Elf grew at least 30% every quarter for 10 straight quarters. Even Costco got jealous. True.
But according to Terang, Elf Beauty isn't in the beauty industry. No, no, no, no, no. Elf is actually in the entertainment industry. industry besties please welcome the maestro of makeup the baron of bronzer the lord of the lip liner Terang Amin is the CEO of Elf Beauty and today's interview with Terang is the best one yet hey Sephora you're gonna want to put down the mirror for this one
Terang, welcome to the show, man. Thank you so much for coming on T-Boy.
Well, thank you for the most gracious introduction I think I've ever had, or at least the most hyped up one. I'm digging it.
You're glowing.
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Chapter 4: How does e.l.f. Beauty's 'dupe' strategy work?
Jack's glowing. We're feeling it. We are so excited to be here with you. So Terang, we did a bunch of research on you, and we saw that you have a career that really has spanned the consumer packaged goods world.
Chapter 5: Why does the CEO believe charging high prices for cosmetics is immoral?
At one point, you sold kitty litter, laundry detergent, Pantene Pro-V. I have a quick question about Pantene Pro-V. Oh, this has been pent up. Jack has been waiting to ask you as an executive this for, I'm going to say years.
Chapter 6: How does e.l.f. Beauty utilize TikTok for product development?
After you're done cleansing your hair and rinsing it off, do you really need to rinse and repeat with the shampoo? Or was that a brilliant scheme to double sales overnight?
Well, you know, I work for someone at P&G who claimed his claim to fame was, he says, you know how the shampoo bottle says lather and rinse?
Chapter 7: What is the company's approach to sharing knowledge with employees?
Right. I'm like, yeah. He says, I'm the one who came up with repeat. And he says it doubled the volume. I think it got him promoted. He had a very successful career. And if I only knew business was that simple, I just have to come up with repeat.
McDonald's should say, enjoy your Big Mac. Repeat. Elf lipliner. Apply three times for maximum doingness. Oh, that's perfect. Now, a quick word from our sponsor.
Chapter 8: What lessons can be learned from e.l.f. Beauty's business model?
Well, Tarang, as Jack and I were researching you, we know you were born in Kenya to Indian parents. You came to this child as an immigrant, and you actually joined Elf Beauty at a really interesting point. Twelve years ago, shortly after it was founded, you had the role of taking over from the founders, and yet... you don't really wear makeup.
I think you're a beautiful man, but you don't wear makeup as far as we're aware. Do you need to use the product?
No, I do. Actually, on this interview right now, I've got our poreless putty primer, our mat. I do a little tea here. I've got our camo concealer for these black eyes and our Well People Press Powder. That's why I look so fabulous.
Can you tell us how important is it to use the product if you're going to be a CEO of a company?
I think it's essential. And particularly with our skincare range, absolute favorites for me. As I said, I just use our primers, our concealers, our powders for interviews like this when I want to look my best. But I think more important even than using the products yourself is having a team that reflects the community you serve. So I'm really proud that our workforce is 74% women
66% Gen Z and millennial, 44% diverse. They absolutely represent the community we serve. And frankly, they're one of the best sources of insights I have. I do a product review every couple weeks. All I'm doing on that product review is looking at the chat field. I'll throw out open-ended questions like, hey, tell me why is this thing so great?
And our team, they're so passionate, so into these categories and our consumers and making sure that we're delighting them. And that really makes my job a lot easier.
The Elfs have Riznik. I think there's six, seven all over Terang over here. I believe that's the business school term, Jack. Well, Yetis, whether you wear makeup or don't wear makeup, this is why we were so excited to bring Terang and Elf onto the show. We've been studying this business for years. Just over one year ago, after President Trump got elected, we said Elf Beauty explained the economy.
This was the days after the November 2024 election. In the election year of 2024, Elf Beauty sales rose by 46% because you offered what every voter apparently badly wanted, affordability. And Terang, Jack and I have been keeping track on a whiteboard over here. There's the $1.50 Costco hot dog soda combo, the $0.99 Arizona iced tea, and as we've always said, the $3 Elf Beauty lip liner.
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