Hailey Bieber, known for her striking beauty and entrepreneurial spirit, has taken a significant leap in the beauty industry. The fashion model turned businesswoman has recently finalized a groundbreaking deal to sell her skincare brand, Rhode, to the cosmetics powerhouse e.l.f. Beauty for a staggering $1 billion.
Established in 2022 and bearing Hailey’s own middle name, Rhode swiftly gained recognition in the skincare realm for its chic simplicity and sought-after products such as the Peptide Lip Treatment. In just three short years since its inception, Rhode has captured the attention of beauty enthusiasts worldwide with its signature offerings.
The acquisition agreement involves a substantial sum of $800 million in cash and stocks upfront, with an added $200 million tied to Rhode’s future sales performance—a testament to the brand’s promising trajectory under new ownership. Industry insiders intimate that this high-profile transaction is slated for finalization later this year.
Describing Rhode as a
“beautiful brand ready for rocketship growth,”
e.l.f. expressed optimism about incorporating this gem into their portfolio. Despite parting ways with ownership, Hailey Bieber remains deeply involved in the evolution of Rhode. She will retain her position as Chief Creative Officer and Head of Innovation at the company she co-founded while assuming a fresh role as a strategic consultant at e.l.f. Beauty.
In an emotional message shared on social media, Hailey conveyed her elation regarding this pivotal development in her entrepreneurial journey:
“When I launched @rhode in 2022, I always had big dreams for the company.”
Her vision extends beyond borders as she aims to expand Rhode’s presence globally while preserving its essence amidst transformation.
Referring to e.l.f. Beauty as a
“like-minded disruptor,”
Hailey exudes confidence in their shared vision for propelling Rhode to greater heights without compromising its innovative edge. She foresees an extraordinary chapter ahead and emphasizes that this milestone marks merely the commencement of an exciting odyssey.
With Hailey Bieber at the helm steering Rhode towards innovation and global expansion alongside e.l.f. Beauty’s resources and expertise backing them up, it seems certain that this collaboration will redefine standards within the beauty industry landscape—a partnership poised to set new benchmarks of success and creativity in skincare solutions.
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