Yes, Hailey Bieber is Selling Rhode
Acquired by e.l.f. Beauty for $1 billion USD.
After rumors of Hailey Bieber‘s Rhode heading towards a major transition and drumroll please… it was announced by e.l.f Beauty that it will acquire Bieber’s skincare and makeup brand for one billion.
Since its launch in 2022, Rhode has been known for its minimalist aesthetic, accessible pricing and viral collaborations with celebrities like Tate McRae and Claudia Schiffer. Its products sell out almost immediately after dropping and its skin health philosophy makes the brand a key player in the beauty space. Bieber, the daughter of actor Stephen Baldwin and Justin Bieber, joins a growing list of celebrities like Rare Beauty and Honest Beauty who have and are seeking to find buyers for their fast-growing companies.
“e.l.f. Beauty found a like-minded disruptor in rhode,” shares e.l.f. Chairman and CEO Tarang Amin in a press release. “rhode further diversifies our portfolio with a fast-growing brand that makes the best of prestige accessible. We are excited by rhode’s ability to break beauty barriers, fully aligning with e.l.f. Beauty’s vision to create a different kind of company. rhode is a beautiful brand that we believe is ready for rocketship growth.”
The one billion agreement includes an initial payment of $800 million, and an additional $200 million may be paid out over the next three years, depending on the brand’s performance and growth. Though e.l.f. Beauty is taking over, Bieber isn’t going anywhere, she’ll stay on as Founder and continue leading rhode as Chief Creative Officer and Head of Innovation, driving everything from product ideas to marketing.
For more beauty news, check out our coverage of MAC Cosmetics’ two new “Lipglass” products.
