E.l.f. Beauty, the popular cosmetics brand known for affordable and cruelty-free makeup, has announced a landmark deal to acquire Rhode, the skincare brand founded by model, influencer and entrepreneur Hailey Bieber. The purchase is valued at an impressive $1 billion.
The $1 billion deal includes a combination of cash and stock, demonstrating e.l.f.’s commitment to incorporating Rhode as a core part of its long-term growth strategy. Industry analysts are optimistic that the acquisition will help e.l.f. Beauty diversify its offerings and fuel revenue growth amid an increasingly competitive beauty landscape.
Hailey Bieber, who has been actively involved in Rhode’s product development and marketing, will continue to play a key role with the brand under e.l.f.’s stewardship.
She will remain as the chief creative officer, continuing to influence the brand she helped establish from the ground up. On social media, she expressed that this signifies “the next chapter” for Rhode and shared her enthusiasm for the opportunity to expand even further.
In a recent Vogue interview (before the deal went public), Hailey said the success of Rhode had already gone beyond any anything she imagined.
“In my wildest dreams, it’s already gone beyond what I would hoped for,” she said.
