E.l.f. Beauty Acquires Hailey Bieber’s Rhode for $1 Billion
CITY – May 3, 2024 –
In a landmark deal, E.l.f. Beauty is acquiring Rhode, the skincare brand founded by Hailey Bieber, for a staggering $1 billion. The acquisition, announced today, involves e.l.f. Beauty taking over Rhode, which was launched in 2022. This strategic move signifies a remarkable intersection of two major players in the beauty industry, promising innovation based on expert knowledge and strategic collaboration.
E.l.f. Beauty Acquires Hailey Bieber’s Rhode for $1 Billion
E.l.f. (eyes,lips,face) Beauty is set to acquire Rhode,the skincare brand launched in 2022 by model and entrepreneur Hailey Bieber. The acquisition is valued at $1 billion, according to a press release.
Bieber’s Vision and Future Role
Hailey Bieber, 28, expressed enthusiasm about the acquisition and its potential to expand Rhode’s reach. We can’t wait to bring Rhode to more faces, places, and spaces. From day one, my vision for Rhode has been to make essential skin care and hybrid makeup you can use every day,
Bieber stated. She added, Just three years into this journey, our partnership with e.l.f. Beauty marks an unbelievable opportunity to elevate and accelerate our ability to reach more of our community with even more innovative products and widen our distribution globally.
Bieber will assume an expanded role of Chief Creative Officer and Head of Innovation
following the acquisition.
Rhode’s Success and Product Line
Rhode offers a curated selection of skincare products, including toner, moisturizer, and lip peptide gloss, with the aim of creating one of everything really good.
Bieber collaborated with BeautyStat entrepreneur and chemist Ron Robinson,as well as dermatologist Dr. Dhaval Bhanusali, on the formulations.
E.l.f. Beauty’s Viewpoint
Tarang Amin, chairman and CEO of e.l.f.Beauty, highlighted the strategic alignment between the two brands.E.l.f. Beauty found a like-minded disruptor in Rhode,
Amin said. 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 stunning brand that we believe is ready for rocketship growth.Tarang Amin, chairman and CEO of e.l.f. Beauty
Financial Performance and Future Expansion
Rhode reported $212 million in net sales for the 12 months ending March 31, 2025. The brand plans to launch in Sephora stores throughout North America and the U.K. before the end of the year.
According to the release,Rhode was the No. 1 skincare brand in Earned Media Value in 2024, representing 367% year-over-year EMV growth.
E.l.f. Cosmetics has reported 23 straight quarters of growth.
The sale has been approved by the e.l.f. Beauty Board of directors.
