E.l.f. Advocates for Diversity in Corporate America with a Bold Statement

E.l.f. Beauty's Campaign for Diversity in Corporate Boardrooms

E.l.f. Beauty is launching a campaign called “So Many Dicks” to promote more diversity in U.S. corporate boardrooms. This initiative, as stated in a press release, will be showcased on digital screens at transportation hubs near Wall Street.

The campaign is named after the discovery that there are 566 men named Richard, Rick, or Dick on the boards of directors of U.S. based companies listed on the New York Stock Exchange and NASDAQ. This is in comparison to only 806 Black women, 774 Asian women, and 283 Hispanic women out of nearly 37,000 board members.

E.l.f. collaborated with purpose-driven agency Oberland on this initiative, which is part of its larger “Change The Board Game” campaign focused on promoting corporate diversity. The campaign highlights how some brands are actively embracing diversity, equity, and inclusion in response to a broader trend of reduced focus on these issues in corporate America.

E.l.f. Beauty's Campaign to Increase Diversity on Corporate Boards

E.l.f. Beauty is on a mission to double the representation of women and diverse members on corporate boards by 2027. Their latest campaign, "So Many Dicks," is grabbing attention with bold out-of-home ads in the Financial District. These ads can be seen at Fulton Street Station and The Oculus until June 10. The campaign highlights the abundance of men named "Dick" on boards, compared to the limited number of women and diverse individuals. For instance, there are 19 times more "Dicks" than Middle Eastern women on boards, and only three Native American women are represented.

E.l.f. Beauty stands out with a board that is two-thirds women and one-third diverse, a rarity among corporate boards in the U.S. This diversity is linked to the company's impressive 20 consecutive quarters of net-sales growth, placing it among the top five CPG companies in the country with such a track record.

According to E.l.f. Beauty chairman and CEO Tarang Amin, a diverse board brings in various perspectives that lead to better decision-making. Amin, who has roots in Kenya and India, emphasized the importance of empathy in their business model, connecting them with their community and their values. Additionally, a diverse board helps the company remain culturally relevant to different groups, fostering innovation and driving brand demand in the industry.

E.l.f. experienced a remarkable 85% growth in sales during the holiday quarter, surpassing expectations from Wall Street. The brand has maintained its popularity among Gen Z by promoting high-quality products at affordable prices and by being an early adopter of new platforms like TikTok, Roblox, and the Apple Vision Pro.

The upcoming campaign, in addition to traditional out-of-home advertising, will also be showcased on the brand's social media channels. This campaign was developed in collaboration with purpose-driven agency Oberland. CEO Drew Train expressed hope that the campaign will showcase the "ROI of DEI." This effort is particularly significant as some brands are scaling back on diversity, equity, and inclusion initiatives due to legal and political pressures resulting in backlash.

E.l.f. recently introduced "So Many Dicks" as a part of their "Change the Board Game" initiative. This initiative was launched in collaboration with tennis legend and equity advocate Billie Jean King. The campaign, called "Serving Facts," aimed to showcase E.l.f.'s partnership with the National Association of Corporate Boards. Together, they have developed a board accelerator program designed to provide training and increase visibility for 20 women and/or diverse board-ready candidates.

Editor's P/S:

E.l.f. Beauty's "So Many Dicks" campaign boldly confronts the lack of diversity in corporate boardrooms, highlighting the staggering number of men named "Dick" compared to the alarmingly low representation of women and diverse individuals. This initiative underscores the urgent need for systemic change in corporate governance, where decision-making power has historically been concentrated in the hands of a homogenous group. By calling attention to the disparity, E.l.f. Beauty challenges the status quo and advocates for a more inclusive and equitable business landscape.

E.l.f. Beauty's success, with its diverse board and impressive growth trajectory, serves as a testament to the benefits of embracing diversity. The company's commitment to representation extends beyond its own boardroom, with initiatives like the "Change The Board Game" campaign and the board accelerator program. These efforts aim to break down barriers for women and diverse candidates, creating a pipeline of future leaders who will bring fresh perspectives and foster innovation in corporate America. By addressing the systemic underrepresentation of diverse voices, E.l.f. Beauty sets an inspiring example for other companies to follow, demonstrating that diversity is not only a moral imperative but also a catalyst for business success.