Hailey Bieber's skincare brand, rhode, has been acquired by e.l.f. Beauty for $1 billion, comprising $800 million in cash and stock plus a potential $200 million earnout based on future growth. This acquisition is seen as a strategic move to diversify e.l.f.'s portfolio and tap into the growing Gen Z market. Bieber, a prominent figure herself, aims to expand rhode globally while maintaining its commitment to supporting women's career barriers and healthcare access. Industry experts view this deal as a beneficial collaboration, strengthening both brands' positions in the beauty market.
e.l.f. Beauty found a like-minded disruptor in rhode. rhode further diversifies our portfolio with a fast-growing brand that makes the best of prestige accessible.
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.
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