OMG! Hailey Bieber's rhode Just Sold For A BILLION DOLLARS!

2025-05-29 06:01:25.334

Hailey Bieber's beauty brand, rhode, was sold to e.l.f. Beauty for a staggering $1 billion. This marks e.l.f.'s largest acquisition, surpassing its $355 million purchase of Naturium in 2023. Launched in 2022, rhode generated $212 million in net sales in its last fiscal year. The brand's popularity, boosted by Bieber's strong social media presence and in-store availability at Sephora, contributed to its success. Bieber will remain as rhode's chief creative officer and head of innovation. e.l.f. aims to leverage rhode's strong engagement model and expand its retail presence and global reach. The acquisition comes as e.l.f. faces challenges from tariffs on its China-based production, leading to price increases. Despite this, e.l.f. remains committed to its China supply chain. The deal, consisting of $800 million in cash and stock with a potential additional $200 million based on rhode's future performance, is expected to close later this year.