ELF Beauty is hoping that investors think its focus on affordable cosmetics with an upscale feel and strong U.S. cosmetics market is a sexy combination. Started as an online cosmetics seller over a decade ago, today ELF Beauty has over 11 retail stores across New York City and Los Angeles, and its foot in the door with major mass retailers such as Walmart (WMT) , Target (TGT) and CVS Health (CVS) . Target is ELF's longest standing national retail distribution partner, and represents about 23% of its sales. The company inked a deal to sell its offerings -- which mostly sell for $6 or less -- at Walmart in 2012, and the business has quickly grown to 28% of its annual business. Sales for the six months ended have tallied $96.8 million, up from $75.2 million a year earlier. Unlike many early stage growth companies going public, ELF Beauty is decently profitable. The company already works with Amazon (AMZN) , too, which is good news in light of the e-commerce giant recently launching a one-hour cosmetics delivery service in Chicago for Prime members. The health of the U.S. cosmetics markets should make ELF's expansion efforts a touch easier. The U.S. make-up market is anticipated to grow by a compound annual growth rate of 3.8% from 2013 to 2018, reaching $8.4 billion, according to research firm MarketResearch. TheStreet's Brian Sozzi has details from the New York Stock Exchange.
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