Hailey Bieber’s Rhode Brand Acquired: $1 Billion Deal with e.l.f. Beauty
Hailey Bieber has officially transitioned from beauty entrepreneur to a true billionaire, thanks to the acquisition of her renowned skincare line by e.l.f. Beauty, a deal revealed on Wednesday, May 28.
In a move that’s resonated throughout the industry, e.l.f. Beauty disclosed its agreement to purchase Rhode for an impressive $1 billion, as reported by WWD. This acquisition marks e.l.f.’s largest to date and comprises $800 million in cash and stock upon closing, with a potential additional $200 million earnout hinging on Rhode’s future performance.
Bieber, 28, expressed her enthusiasm for the collaboration, highlighting e.l.f.’s legacy of empowering founders and their shared ambition to expand Rhode to “more places, more faces” worldwide.
e.l.f. has a proven track record of supporting successful founder-led brands, having previously acquired Naturium in 2023 and nurtured Alicia Keys‘ Keys Soulcare, a commitment that resonated with Bieber as she navigated the challenges of finding the right partner for her brand.
She underscored the strong synergy between Rhode and e.l.f. concerning fundamental principles like community and team building. “When I launched @rhode in 2022, I had ambitious dreams for the brand,” Bieber shared via Instagram on Wednesday. “I am overjoyed and proud to announce our partnership with e.l.f. Beauty as we embark on this new journey.”
She added: “I’ve found a like-minded innovator with a vision to create a different kind of company that champions bold ideas and innovation, mirroring my own vision and supporting our growth. After expressing gratitude to her team and fans, she encouraged everyone, reminding them that this is only the beginning, paired with a heart emoji.
Since its launch in 2022, largely inspired by Bieber’s viral “glazed doughnut skin” trend, Rhode has intentionally broadened its offerings from initial lip balms, serums, and glazing milk moisturizer, to include trendy color cosmetics and even limited-edition iPhone cases.
e.l.f.’s chairman and CEO, Tarang Amin, praised Rhode’s impressive trajectory, emphasizing its achievement of $212 million in sales within three years with just 10 products directly sold to consumers — a remarkable feat he recognized he wouldn’t have believed without witnessing it firsthand.
“A billion-dollar deal is the largest we’ve completed in our history, which not only reflects our excitement and confidence but also brings a significant responsibility to uphold everything Hailey envisions,” he conveyed to WWD. “We need to ask ourselves questions such as, ‘How much can we grow our brand portfolio?’ and ‘How can we continuously disrupt the beauty industry?’”
A major collaboration with Sephora is scheduled for late 2025, which will also facilitate e.l.f.’s entry into the Sephora market. Bieber will maintain an active role with Rhode, serving as chief creative officer, expressing her commitment to continuing to push boundaries in innovation, whether in products or marketing, confident that e.l.f. will support them in this mission.
The prospects for beauty’s newest billionaire look exceptionally bright for Hailey, who, don’t forget, seems to have taken little to no time off since welcoming her first child, Jack, now 9 months old, with husband Justin Bieber, in August 2024.
Quickly, she was sharing Instagram posts featuring her designer Goyard baby bag overflowing with newborn essentials and unreleased Rhode products, generating excitement for the upcoming launches that continue to shape our beauty routines.
Since then, she’s been elevating her career in various ways, most recently gracing the cover of American Vogue for the first time on her own, despite prior indications from Justin in a now-deleted post that he thought she’d “never” achieve that solo cover, even though she previously appeared on Vogue alongside him.
Fast-forward to the present, and Hailey is embracing her best life, laughing all the way to the bank.
