Hailey Bieber’s Rhode Beauty acquired by a cosmetics giant in USD 1 billion mega deal

Hailey Bieber has just scored one of the biggest wins in the beauty industry this year! Her skincare brand, Rhode, has reportedly been acquired by cosmetics giant e.l.f. Beauty in a deal valued at up to USD 1 billion. Launched in 2022, Rhode has quickly become a viral sensation, thanks to its minimalist skincare essentials and a huge online following.

Hailey Bieber’s skincare brand Rhode sold in a billion-dollar beauty takeover

According to reports, the agreement includes USD 800 million in cash and stock, with an additional USD 200 million potentially coming in based on future sales. At just 28, Hailey will continue her role as Chief Creative Officer and Head of Innovation, while also acting as a strategic advisor to e.l.f. Beauty.

“From day one, my vision for Rhode has been to make essential skincare and hybrid makeup you can use every day,” Hailey stated. “Our partnership with e.l.f. Beauty marks an incredible opportunity to elevate and accelerate our ability to reach more of our community.So today, I am so incredibly excited and proud to announce that we are partnering with e.l.f. Beauty as we step into this next chapter in the world of Rhode,” Hailey shared on Instagram.

Since its debut, Rhode has made a significant impact online, particularly with its popular peptide lip treatments and pocket blushes. With over USD 212 million in net sales just last year, the brand is gearing up for retail expansion, including a launch in Sephora stores across the US and UK.

Hailey Bieber is joining a growing roster of celebrity beauty moguls who are making waves in the industry, from Rihanna’s Fenty to Selena Gomez’s Rare Beauty. With this acquisition, Rhode is set to expand globally, while Hailey solidifies her status as a rising star in the beauty business.