E.l.f. to Acquire Rhode Skincare from Hailey Bieber for $1 Billion
E.l.f. Beauty agreed to purchase Rhode skincare line from Hailey Bieber for $1 billion. Since launching in 2022, Rhode has grown rapidly and caught the attention of bigger beauty companies.
The deal includes $600 million in cash, $200 million in newly issued stock, and up to $200 million more if Rhode grows further over three years. Rhode earned $212 million in net sales in the past year and now aims to move from online sales into stores like Sephora by late 2025.
Bieber will remain in charge of Rhode’s creative direction. This means she will continue as Chief Creative Officer and also act as a strategic advisor for both brands.
Deal highlights:
- Price tag: $1 billion
- Breakdown: $600M cash + $200M stock + $200M if growth targets are hit
- Revenue: $212M in the past 12 months
- Retail push: Sephora expansion expected in 2025
- Bieber’s role: Creative leader and advisor
Bieber shared, “I feel invigorated, excited and more ready than ever to step into an even bigger role as Chief Creative Officer, and Head of Innovation of Rhode as well as strategic advisor to e.l.f. Beauty.”
E.l.f. CEO Tarang Amin commented, “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.”
The deal is expected to close by the end of 2025, depending on approvals.
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