E.l.f. Beauty to Acquire Hailey Bieber’s Rhode for $1 Billion USD

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Summary

  • E.l.f. Beauty has officially acquired Hailey Bieber’s skincare brand, Rhode in a $1 billion deal USD
  • Hailey Bieber will continue as Rhode’s founder and take on expanded responsibilities as Chief Creative Officer and Head of Innovation for Rhode

ELF Cosmetics has officially agreed to purchase Rhode, the rapidly expanding skincare brand founded by Hailey Bieber, for an impressive $1 billion USD in a major transaction. This strategic step is intended to broaden ELF Cosmetics’ product range and strengthen its position within the luxury beauty market. The deal involves paying $800 million immediately (a mix of cash and shares), with a potential additional payment of $200 million over three years, contingent on Rhode’s future growth.

Ever since its debut in 2022, Rhode has experienced remarkable growth, racking up $212 million in net sales over the course of a year ending March 31, 2025, and significantly expanding its customer base. Hailey Bieber will maintain her position as founder while assuming additional roles as Chief Creative Officer and Head of Innovation for Rhode. In an interview with WWD, Bieber expressed, “They nurture founders, they strive to amplify our visions and back us up. That’s where we are with Rhode, and I’m eager to move forward.” The agreement opens possibilities for global expansion, as Bieber puts it, “more locations, more people.” Regarding the partnership with E.l.f., Bieber shared, “This is my creation, and finding a suitable home for it isn’t simple – it can be quite daunting. When I met the E.l.f. team, we had many shared values in terms of community and team spirit.

Tarang Amin, CEO of e.l.f. Beauty, mentioned that e.l.f. has found a compatible disrupter in Rhode. He highlighted Rhode’s capacity to shatter beauty norms, which aligns perfectly with e.l.f.’s goal of establishing an unconventional beauty brand. Notably, Rhode’s products, now exclusively sold online, are scheduled for an in-store debut at Sephora locations throughout North America and the U.K. later in 2022, marking a substantial growth in its retail distribution.

 

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2025-05-29 07:26