In what might be one of the beauty world’s most buzz-worthy moves this year, Hailey Bieber has officially sold her skincare label Rhode to e.l.f. Beauty – and the deal is nothing short of major.
According to the the official press release, Hailey’s brand is valued at up to $1 billion (£780 million) and this partnership signals an exciting new chapter for both brands.
In a heartfelt Instagram post, the entrepreneur revealed: “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. So today I am so incredibly excited and proud to announce that we are partnering with e.l.f. Beauty as we step into this next chapter in the world of rhode.”
Adding: “I found a like-minded disruptor with a vision to be a different kind of company that believes in big ideas and innovation in the same way that I do and will help us continue to grow the brand.”
Launched in 2022, Rhode quickly became a cult favourite with beauty lovers thanks to its chic aesthetic, science-backed formulas, and viral hero products like the Peptide Lip Treatment, Pocket Blush and Phone Case. According to Fortune, within just under three years, the beauty brand has reportedly racked up over $200 million (£148 million) in yearly sales and a loyal Gen Z following to match.
But before fans panic – Hailey isn’t walking away. In fact, she’s staying firmly at the helm, stepping into the role of Chief Creative Officer and Head of Innovation at Rhode, while also becoming a strategic advisor to e.l.f. Beauty.
She explained:”I feel invigorated, excited and more ready than ever to step into an even bigger role as Chief Creative Officer, and Head of Innovation of rhode as well as strategic advisor to e.l.f. Beauty. Thank you to the amazing rhode team who have helped me build over the years.”
“I couldn’t have done it without all of you. And to our rhode community, thank you for being the most supportive and for being on this journey, this next chapter is going to be even more incredible together!” Hailey signed off with: “As I’ve said, this is only the beginning.”
This partnership is set to widen Rhode’s reach, moving into physical shops, including Sephora stores in the US and UK later this year.
e.l.f.beauty is quickly earning a name for itself by snapping up hot new brands. In 2023, the brand also bought skincare brand Naturium, founded by Susan Yara, for a whopping $355 million (around £279 million). Not bad for a brand that only launched in 2019. But Rhode being bought for $1 billion (£790 million) in under three years? That’s seriously next level – one of the biggest beauty deals for such a young brand.
With this landmark deal, Hailey joins the ranks of celebrity moguls from Kylie Jenner to Selena Gomez, making waves with their beauty brands and proves that Rhode isn’t just a brand – it’s a movement.
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