Exciting News: E.l.f. Beauty Set to Acquire Hailey Bieber’s Rhode Brand for $1 Billion!

Hailey Bieber’s beauty brand, Rhode, just made waves with a big $1 billion deal with E.l.f. Beauty. This acquisition, announced recently, highlights both companies’ ambitions in the beauty industry.

Rhode has been on the rise since launching in 2022. The brand focused on innovative skincare, leveraging Bieber’s social media influence to connect with fans. In just a short time, Rhode’s sales hit $212 million, showing its strong consumer appeal. The brand plans to expand into more markets, which Bieber describes as “more places, more faces.”

E.l.f. Beauty, known for its budget-friendly products, sees this acquisition as a game-changer. Tarang Amin, E.l.f.’s CEO, mentioned that discussions about acquiring Rhode began back in October. He emphasized how Rhode’s success—growing without extensive retail presence—fits perfectly with E.l.f.’s vision.

For context, this isn’t E.l.f.’s first major move. The company previously acquired Naturium in a $333 million deal, aiming to enhance its skincare offering. The growth of both Naturium and Rhode shows how brands can flourish with the right backing. Interestingly, E.l.f. overcame challenges, including tariffs affecting many products made in China.

Despite some skepticism about meeting the $1 billion valuation initially, Rhode’s rapid growth has proven those doubts wrong. Today, Rhode is one of the fastest beauty brand acquisitions to reach this milestone.

As part of the deal, Bieber will stay on as Rhode’s chief creative officer, overseeing new products and strategies. She’s excited to keep pushing the brand’s innovative spirit.

The deal signifies more than just financial growth for E.l.f.; it’s also about the commitment to evolving the beauty landscape. Social media reactions have been predominantly positive, reflecting fans’ enthusiasm for the union of these two brands.

While E.l.f. is focusing on integrating Rhode, it also aims to continue growing its other brands organically. The future looks bright for both E.l.f. and Rhode, as they work together to redefine beauty standards and accessibility.

For more insights on beauty trends, check industry leaders like WWD or financial news from CNBC.

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acquisition,Elf Beauty,Hailey Bieber