Abstract
- E.l.f. Magnificence has formally acquired Hailey Bieber’s skincare model, Rhode in a $1 billion deal USD
- Hailey Bieber will proceed as Rhode’s founder and tackle expanded tasks as Chief Artistic Officer and Head of Innovation for Rhode
E.l.f. Magnificence has introduced a definitive settlement to amass Rhode, the fast-growing skincare model based by Hailey Bieber, in a blockbuster $1 billion deal USD. This strategic transfer goals to additional diversify e.l.f. Magnificence’s portfolio and bolster its presence within the status magnificence section. The deal is structured with $800 million payable at closing (a mixture of money and inventory) and a possible further earnout of $200 million based mostly on Rhode’s future progress over three years.
Since its launch in 2022, Rhode has quickly gained traction, producing $212 million in internet gross sales within the 12 months ending March 31, 2025, and greater than doubling its shopper base. Hailey Bieber will proceed in her position as founder and also will tackle expanded tasks as Chief Artistic Officer and Head of Innovation for Rhode, offering strategic recommendation to the mixed corporations. In an interview with WWD, Bieber stated, “They help founders, they need to assist push the founders’ imaginative and prescient and get behind them. That’s the place we’re with Rhode, and I’m able to get to the subsequent place.” The deal permits for worldwide growth or as Bieber implied, “extra locations, extra faces.” On partnering with E.l.f, Bieber stated, “That is my child, and to discover a dwelling for it’s actually not a simple course of — it’s very scary. After I met the E.l.f. group, we had plenty of similarities when it got here to the significance of neighborhood and group constructing.”
E.l.f. Magnificence CEO Tarang Amin acknowledged that e.l.f. “discovered a like-minded disruptor in Rhode,” emphasizing Rhode’s capacity to “break magnificence boundaries” and align with e.l.f.’s imaginative and prescient of making a special form of magnificence firm. Rhode’s merchandise, presently bought on to customers, are additionally slated for a bodily in-store launch with Sephora throughout North America and the U.Ok. later this yr, signaling a big growth of its distribution.
