In a significant move within the beauty industry, e.l.f. Beauty has announced its intention to acquire Hailey Bieber's skincare brand, Rhode, for $1 billion. The acquisition includes $600 million in cash, $200 million in newly issued e.l.f. Beauty shares, and a potential $200 million earn-out based on Rhode's performance over the next three years.
Launched in 2022, Rhode has quickly gained popularity among younger consumers, offering a range of skincare products and makeup items. The brand reported $212 million in net sales in the 12 months ending March 31, 2025.
Hailey Bieber will continue to play an active role in the company as Chief Creative Officer and Head of Innovation, overseeing product development, creative direction, and marketing efforts.
The acquisition is part of e.l.f. Beauty's strategy to diversify its portfolio and strengthen its position in the prestige beauty market. The company plans to expand Rhode's retail presence, with products expected to be available in Sephora stores across North America and the U.K. by the end of 2025.
Stay Informed with Workplay
In a rapidly evolving market, staying ahead of industry trends is crucial. Workplay provides tools and insights to help you make informed decisions, whether you're navigating career changes or exploring new business opportunities.
