Hailey Bieber, the woman that you are. After launching her skin care brand Rhode in 2022, Bieber has officially created a billion-dollar business. On May 28, E.l.f. Beauty announced its agreement to acquire Rhode in a $1 billion deal.
“E.l.f. Beauty found a like-minded disruptor in Rhode,” said E.l.f. Chairman and CEO Tarang Amin in a press release. “Rhode further diversifies our portfolio with a fast-growing brand that makes the best of prestige accessible. We are excited by rhode’s ability to break beauty barriers, fully aligning with E.l.f. Beauty’s vision to create a different kind of company. Rhode is a beautiful brand that we believe is ready for rocketship growth.”
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Sharing the big news on Instagram, Bieber reflected on the journey developing Rhode into the beauty phenomenon it is today. “I always had big dreams for the company, and the most important thing to me is to keep bringing rhode to more spaces, places, and faces globally,” Bieber wrote. Upon the acquisition, she will take on the role of Chief Creative Officer and Head of Innovation of Rhode as well as strategic advisor to E.l.f. Beauty.
Rhode’s $1 billion evaluation is well-deserved. From peptide lip tints to lip liners and everything in between, all of the products have been instant winners. Back in April, Business of Fashion reported that Bieber was exploring a sale and that the brand could be bought for more than $1 billion.
It’s safe to say it’s been a big month for Bieber. This news comes on the heels of Rhode’s announcement last week that it would be expanding into Sephora later this year. “We’re beyond excited to share that Rhode’s collection of curated skincare and hybrid makeup is coming to Sephora this fall,” the brand account wrote on Instagram. “From day one, it’s been our dream to bring efficacious, intentional skincare and beauty essentials to as many people as possible. We’re so happy to be partnering with Sephora to help us bring the world of Rhode to more people and expand our global community.”
Between the sale of her brand, her Vogue cover, and the brand entering Sephora, Hailey Bieber is booked and busy.
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