Hailey Bieber is making major moves in the beauty industry. The model and entrepreneur has officially sold her skincare brand, Rhode, to e.l.f. Beauty in a blockbuster deal valued at $1 billion.
Founded in 2022 and named after Hailey’s middle name, Rhode quickly made waves in the skincare world with its minimalist aesthetic and cult-favorite products like the Peptide Lip Treatment. Now, just three years later, the brand is joining forces with e.l.f. (short for eyes, lips, face), a rising giant in the cosmetics space.
The acquisition includes $800 million in cash and stock, with an additional $200 million contingent on Rhode’s future sales performance, according to sources close to the deal. The transaction is expected to close later this year.
Rhode is a beautiful brand that we believe is ready for rocketship growth,” e.l.f. said in a statement.
Despite the sale, Hailey isn’t stepping away from the company she helped build. She will continue as Chief Creative Officer and Head of Innovation at Rhode, while also taking on a new role as a strategic advisor to e.l.f. Beauty. Other Rhode co-founders and senior leaders will also remain in place to help steer the brand into its next chapter.
Hailey shared her excitement in a heartfelt Instagram post to her millions of followers.
“When I launched @rhode in 2022, I always had big dreams for the company,” she wrote. “The most important thing to me is to keep bringing Rhode to more spaces, places, and faces globally.”
She called e.l.f. a “like-minded disruptor” and expressed confidence in the company’s ability to help scale the brand while staying true to its innovative spirit.
This next chapter is going to be even more incredible. As I’ve said, this is only the beginning,” she added.
