American model and media personality Hailey Bieber has sold her skincare and beauty brand, Rhode, to E.l.f. Beauty in a landmark deal valued at $1 billion.
Hailey shared the news via her Instagram Story on Wednesday evening, confirming the acquisition with a post that read: “E.l.f. acquired Hailey Bieber’s Rhode in a $1 billion deal.”
According to reports, the agreement includes $800 million in cash and stock, with an additional $200 million contingent on Rhode’s future performance benchmarks.
Although the deal is expected to close later in 2025, Hailey will remain CEO and Head of Innovation at Rhode, and also take on a strategic advisory role at E.l.f. Beauty.
Launched in 2022, Rhode quickly gained global popularity for its minimalist branding and focus on skincare essentials. The billion-dollar acquisition marks a major milestone in Hailey Bieber’s entrepreneurial journey and a bold move by E.l.f. as it expands its portfolio in the booming beauty industry.
