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Hailey Bieber sold her skincare line Rhode to e.l.f. Beauty in a deal worth up to $1 billion.
On Wednesday, e.l.f. Beauty announced it would acquire the Bieber-founded brand for $800 million in cash and stock.
The deal also includes the potential for an additional $200 million earn-out based on Rhode’s performance over the next three years.
Bieber, who is married to Justin Bieber and is the daughter of Stephen Baldwin, launched the brand in 2022—which focuses on direct-to-consumer skincare and makeup.
The brand amassed a major social media following with 3 million Instagram followers and $248 million in earned media value in 2024.
Rhode will also debut in physical stores through a partnership with Sephora in North America and the U.K. later this year.
Just a moment... (n.d.). Just a moment... https://apnews.com/article/hailey-bieber-rhode-elf-beauty-cosmetics-e50afe56cd3d7e6caa004bcc7eeb420b