Skincare it-girl and new mother cashes in and stays in-charge.
Hailey Bieber will continue to helm the brand as chief creative officer and head of innovation, ensuring that rhode’s aesthetic.
The model and entrepreneur has sold her skincare label rhode to e.l.f. Beauty in a US$1 billion deal, making it the budget beauty brand’s biggest acquisition to date.
Despite the blockbuster sale, Bieber isn’t stepping away. She will continue to helm the brand as chief creative officer and head of innovation, ensuring that rhode’s aesthetic – a blend of minimalism, social-media magnetism, and quiet luxury – stays intact.
Launched in 2022, rhode has quickly made waves in the skincare scene. Its tight product line of just 10 items, including the viral Peptide Lip Treatment, generated US$212 million in net sales in the past fiscal year.
The model and entrepreneur has sold her skincare label rhode to e.l.f. Beauty in a US$1 billion deal, making it the budget beauty brand’s biggest acquisition to date.
With retail expansion already underway at Sephora in North America and the United Kingdom, e.l.f. is betting big on rhode’s global appeal.
For e.l.f., which dominates teen and Gen Z shelves with high-performing, under-US$10 products, rhode offers a more elevated entry into prestige skincare – still accessible, but with the celebrity gloss of one of the internet’s most followed faces.
Rhode’s co-founder Lauren Rothberg also took to Instagram on yesterday (May 28) to reflect on the milestone, calling the journey “one of the greatest experiences” of her life.
“To our entire Rhode community – thank you for your endless love and support for the brand. We see every video, comment and message and it means so much to us. We can’t wait for you to see what we have coming!”
With retail expansion already underway at Sephora in North America and the United Kingdom, e.l.f. is betting big on rhode’s global appeal.
However, the acquisition comes at a complicated time with e.l.f.’s manufacturing base in China is currently subject to rising tariffs, prompting a price hike of US$1 across all products from August. But the brand remains confident in its production model and long-term growth strategy.
The Rhode deal includes US$800 million in cash and stock, with another US$200 million tied to performance metrics over three years.
The acquisition is expected to close by the end of the year.
One thing’s clear: Hailey Bieber may be exiting the owner’s seat but she’s not leaving the building. While Rhode, with its new corporate muscle, is just getting started.
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