E.l.f. to Acquire Hailey Bieber’s Rhode Skincare for $1 Billion
E.l.f. Beauty will acquire Rhode, the skincare brand Hailey Bieber launched, in a deal valued at $1 billion. This move marks a major step as E.l.f. continues to grow its presence in the beauty industry.
Since launching in 2022, Rhode has quickly expanded, generating $212 million in net sales over the past year. Under the agreement, E.l.f. will pay $600 million in cash and issue $200 million in stock. Additionally, if Rhode achieves its growth targets over the next three years, E.l.f. will pay up to $200 million more.
Currently, Rhode sells its products online. However, the brand plans to expand into physical stores, beginning with Sephora locations in North America and the U.K. by the end of 2025.
Bieber will stay involved in a major way. She will continue as Chief Creative Officer and Head of Innovation, while also advising the combined companies.
Key details of the deal include:
- Total value: $1 billion
- Payment: $600M cash, $200M stock, up to $200M in growth-based earnouts
- Net sales: $212M in the past year
- Retail expansion: Sephora by late 2025
- Leadership: Bieber remains in creative and strategic roles
“When I launched @rhode in 2022, I always had big dreams for the company, and the most important thing to me is to keep bringing rhode to more spaces, places, and faces globally,” Bieber wrote on Instagram.
E.l.f. CEO Tarang Amin said, “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 companies expect to finalize the acquisition by the end of 2025, pending regulatory approval.
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