Hailey Bieber’s Rhode beauty brand acquired by e.l.f. in $1 billion deal: Reports

Dubai: Just three years after its launch, Hailey Bieber’s skincare brand Rhode has been acquired by cosmetics powerhouse e.l.f. Beauty in a deal reportedly valued at $1 billion, according to The Independent.

Rhode, which debuted in June 2022 with a tight lineup of minimalist skincare products, has become one of the beauty industry’s buzziest success stories — offering everything from skin glazing milk to peptide lip treatments and viral pocket blushes.

It’s also famous for a clever phone case that doubles as a lip tint holder, a hit with Gen Z consumers.

e.l.f. has agreed to pay $800 million upfront, with a further $200 million contingent on the brand’s growth over the next three years, The Independent reported.

Bieber, 28, isn’t stepping away. She will continue as Rhode’s founder, and will also take on the roles of Chief Creative Officer and Head of Innovation. Additionally, she’ll serve as a strategic advisor across the merged businesses.

“I always had big dreams for the company,” Bieber said in an Instagram post announcing the acquisition. “I’ve found a like-minded disruptor that believes in bold ideas and innovation just like I do.”

Tarang Amin, CEO of e.l.f. Beauty, reportedly described Rhode as “one of the most beautiful businesses I’ve ever seen,” adding that the acquisition marks a major step in expanding their presence in the premium skincare space.

Rhode launched with just five products and has grown modestly, sticking to a less-is-more strategy that clearly resonated with consumers. Despite its limited range, the brand has consistently sold out, thanks in part to Bieber’s star power and savvy product development.

With this acquisition, Rhode becomes one of the few celebrity-led beauty brands to successfully scale — and now, under the e.l.f. umbrella, it’s expected to reach an even wider audience without losing its minimalist, modern appeal.