Overview of the Major Acquisition
In a significant move in the beauty industry, Hailey Bieber has officially sold her skincare brand, Rhode, to e.l.f. Beauty for a staggering $1 billion. This acquisition, announced on May 28, consists of 0 million in cash and stock, plus an additional 0 million contingent on the brand’s performance over the next three years. This partnership marks a milestone for Rhode and presents opportunities for growth on a global scale.
Hailey’s Vision for Expansion
Expressing her excitement on social media, Hailey Bieber emphasized her dreams for Rhode. She stated, “the most important thing to me is to keep bringing Rhode to more spaces, places, and faces globally.” Her commitment as chief creative officer and strategic advisor for e.l.f. highlights her ongoing role in shaping the brand’s future. This collaboration is seen as a perfect fit, with both brands sharing a vision committed to innovation and breaking beauty barriers.
The Response from the Rhode Community
Additionally, co-founder Lauren Ratner shared her gratitude towards the Rhode community, acknowledging the support and love that has fueled the brand’s success. Her message underlined how vital the community has been in the journey thus far. Following this acquisition, both the Rhode team and the e.l.f. executives expressed enthusiasm about the brand’s potential and the exciting future that lies ahead.
