Hailey Bieber Strikes $1 Billion Deal To Sell Rhode To e.l.f. Beauty

Beauty brand Rhode, founded in 2022 by Hailey Bieber, has agreed to a $1 billion acquisition by e.l.f. Beauty. The deal, announced on Wednesday, will add Rhode to e.l.f.’s portfolio of brands including e.l.f. Cosmetics, e.l.f. SKIN, Keys Soulcare, Naturium, and Well People. Rhode reported $212 million in sales for the year ending March 31, 2025, and its products will launch at Sephora later this year. The acquisition comprises a $600 million cash payment, $200 million in e.l.f. stock, and a $200 million earnout over three years. Bieber will remain as chief creative officer and head of innovation, with CEO Nick Vlahos continuing in his role. “We can’t wait to bring Rhode to more faces, places, and spaces,” said Bieber. The Rhode deal is one of the largest for a celebrity-backed company since Ryan Reynolds’ Mint Mobile sold to T-Mobile for $1.3 billion in 2023. It’s expected to close in early fiscal 2026. (THR)