Podcast Summary: Uncensored CMO – e.l.f’s $1Bn Rhode Deal, 25 Quarters of Growth & the ‘So Many Dicks’ Campaign featuring Corey Marchisotto
Release Date: July 9, 2025
In this compelling episode of "Uncensored CMO," host Jon Evans sits down with Corey Marchisotto, the dynamic Chief Marketing Officer (CMO) of e.l.f Cosmetics. The conversation explores e.l.f’s impressive business milestones, innovative marketing campaigns, strategic acquisitions, and the cultural framework that sustains their continued growth and success.
1. e.l.f’s Remarkable Growth and Strategic Achievements
25 Quarters of Consistent Growth
At [00:48], Corey proudly announces, “We've completed our 25th consecutive quarter of net sales growth and market share gain.” This achievement underscores e.l.f’s robust business strategy and market resilience.
Acquisition of Rode
Corey shares a significant milestone: “We have entered into a definitive agreement to buy Rode, the brand created by Hailey Bieber” [00:48]. This acquisition marks e.l.f’s strategic expansion into complementary markets, enhancing their product portfolio and market presence.
Cannes Recognition
Highlighting their creative excellence, Corey mentions, “We are here in Cannes shortlisted for the Titanium and the Glass Lions” [00:48]. This recognition is a testament to e.l.f’s innovative marketing efforts and creative prowess.
2. The 'So Many Dicks' Campaign: Challenging Corporate Norms
Campaign Genesis and Purpose
At [03:01], Corey introduces the provocative 'So Many Dicks' campaign, aimed at addressing gender and racial disparities in corporate boardrooms. He explains, “We were the only board of directors of 4,100 publicly traded companies in the United States to have a board that was majority female and over 40% diverse” [04:09]. This unique positioning inspired e.l.f to create a campaign that “jolts people into awareness” about the importance of diversity in leadership [05:24].
Execution and Challenges
Corey outlines the campaign’s focus on two main elements: Degree of Difficulty and Continuity. “We took something that was impossible and made it possible” [01:40], emphasizing the campaign's ambitious nature. However, the journey wasn’t without obstacles, including censorship and resistance from media outlets. “A lot of newscasters, broadcasters, won't even say the name Dick” [06:55], Corey notes, highlighting the cultural pushback they faced.
Impact and Reception
Despite initial challenges, the campaign successfully sparked widespread conversations and garnered international media attention. Corey shares, “People on our board of directors said... my daughter ever asked me what it meant to be on ELF's board of directors and told me she was proud of me” [09:25]. The campaign not only raised awareness but also built a coalition of over 45 companies committed to enhancing boardroom diversity.
3. Expanding e.l.f’s Brand Portfolio
Strategic Acquisitions and Partnerships
Corey discusses e.l.f’s strategic shift from a single-brand approach to building a diverse portfolio. “In the first 15 years of Elf's life it was single brand, single category... part of the reason that I was brought in is because I had a multi portfolio background” [17:12]. Acquisitions like Well People and partnerships with celebrities such as Alicia Keys have allowed e.l.f to maintain each brand’s unique identity while contributing to overall growth.
Maintaining Brand Soul
Corey emphasizes the importance of preserving each brand’s essence during expansion. “They didn't want to end up with the suits... they didn't want to turn it into something we thought it could be” [20:00]. This approach ensures that each brand retains its passion and authenticity, avoiding the pitfalls of becoming just another number within a large corporation.
4. Sustaining Growth through High Performance Teamwork (HPT)
HPT Framework
At [17:53], Corey introduces e.l.f’s High Performance Teamwork (HPT) framework, built on three pillars:
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Passionate Relationships
Building deep, meaningful connections among team members. “I need to know you more than your title... what’s important to you” [18:30]. -
Healthy Conflict
Encouraging open, respectful debates focused on solving issues rather than personal disagreements. “There’s me, there’s you, and there’s a problem” [19:10]. -
Mutual Accountability
Fostering a sense of ownership and responsibility across the organization. “Every single employee at ELF is granted meaningful equity every year” [17:46].
Cultural Impact
Corey explains, “We are one team, one dream, all in the same boat” [19:50]. This cohesive culture enables e.l.f to innovate continuously and maintain its upward trajectory.
5. Community Engagement: Zero Distance Philosophy
Direct Consumer Interaction
Corey highlights e.l.f’s commitment to maintaining close ties with their community through platforms like TikTok and Twitch. “We go on TikTok lives. We go on our Twitch live streams” [12:40]. This “zero distance” approach ensures that leadership remains accessible and responsive to consumer needs.
Innovative Initiatives
An example of this engagement is CFO Mandy Fields’ participation in a Twitch livestream to promote financial education through the Roblox game Fortune Island, attracting 100,000 viewers [12:46]. This initiative exemplifies e.l.f’s dedication to providing value beyond their products.
6. Leveraging Sports Partnerships for Social Impact
Collaboration with Billie Jean King
At [26:37], Corey discusses e.l.f’s partnership with legendary tennis player Billie Jean King. Their collaboration began with a skincare campaign and evolved into broader initiatives addressing boardroom inequities. “94% of all women who make it to the C suite are former athletes” [28:07], Corey notes, highlighting the intersection between sports and business leadership.
Supporting Underrepresented Athletes
The partnership extends to supporting athletes like Catherine Lang, a female racing driver. Corey recounts, “She said... I've never been invited to be a woman here before... this year I'm coming unapologetically as who I am” [31:32]. e.l.f’s support empowered Lang to embrace her identity, fostering a more inclusive sporting environment.
Creating Meaningful Events
e.l.f also engaged with underserved sports communities, such as girls wrestling and professional women’s hockey. Corey describes organizing the “Lip Oil Change” event, which celebrated Catherine Lang’s authentic participation and resonated deeply with attendees [34:16].
7. The Multifaceted Role of a CMO in a Growing Organization
Balancing Innovation and Execution
Corey reflects on the complexities of his role, stating, “As long as we stay really close to the people that we serve... there is no e.l.fing limit” [10:34]. He manages everything from product innovation to direct-to-consumer strategies, ensuring that all functions revolve around consumer-centricity.
Transforming Corporate Functions
One notable example is e.l.f’s “earnings show,” a 30-minute feature film that transforms quarterly earnings into an engaging, celebratory event for the entire company. “It's a 30-minute feature film that brings all the things we have to tell the street to life” [37:00].
Fostering a Positive Work Environment
Corey emphasizes the importance of value alignment and cultural harmony in preventing burnout and maintaining high performance. “At elf, I've been in a constant state of peak performance for six and a half years because it is in perfect harmony where I am” [23:51].
Notable Quotes
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“We were the only board of directors of 4,100 publicly traded companies in the United States to have a board that was majority female and over 40% diverse.” – Corey Marchisotto [04:09]
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“We're all shareholders, so every employee at ELF is granted meaningful equity every year.” – Corey Marchisotto [17:46]
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“As long as we stay really close to the people that we serve and we take any borders or boundaries out of the way between us and them, no ivory towers.” – Corey Marchisotto [34:31]
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“At elf, I've been in a constant state of peak performance for six and a half years because it is in perfect harmony where I am, what we're up to, who I work with. Never for me has it been a day of work.” – Corey Marchisotto [23:51]
Conclusion
Corey Marchisotto’s insights reveal how e.l.f Cosmetics has not only achieved sustained growth but also driven meaningful cultural and social change. Through innovative campaigns like 'So Many Dicks,' strategic acquisitions, and a strong internal culture grounded in High Performance Teamwork, e.l.f continues to redefine the beauty industry. Their commitment to diversity, community engagement, and authentic leadership serves as a powerful blueprint for modern marketing excellence.
Listeners gain valuable perspectives on balancing business growth with social responsibility, fostering a positive organizational culture, and maintaining authentic connections with consumers—all essential elements for thriving in today’s dynamic market landscape.