Hailey Bieber‘s fashion label Rhode, established in 2022, has reached an agreement for acquisition by e.l.f. Beauty in a significant $1 billion transaction.
ELF Corporation unveiled its purchase on Wednesday, revealing intentions to incorporate the rapidly expanding beauty brand into its existing portfolio which currently encompasses ELF Cosmetics, ELF SKIN, Keys Soulcare, Naturium, and Well People. The financials for Rhode, as stated by both parties, indicate sales of $212 million in the fiscal year ending March 31, 2025. It has been disclosed that their products will become available at Sephora towards the end of this year.
The agreement includes a $600 million cash transaction, a distribution of $200 million in e.l.f. stock to Rhode’s current shareholders, and a $200 million bonus payable over three years if specific performance targets are met.
Justin Bieber’s spouse, who is also known as a pop star himself, will keep his position at the company as the Chief Creative Officer and Head of Innovation. Meanwhile, Nick Vlahos will continue to serve as CEO.
As a gamer, I’ve swiftly made my mark in this gaming realm, finding myself a regular at tournaments with Justin Bieber.
I’m thrilled about sharing Rhode with even more people, locations, and environments. Since the beginning, my dream for Rhode has been to provide everyday essential skincare and hybrid makeup that everyone can use,” Bieber stated. “Our collaboration with e.l.f. Beauty is an amazing chance to boost and speed up our reach to more of our audience, offering them more creative products and expanding our distribution worldwide. As I take on the role of Founder, Chief Creative Officer, and Head of Innovation, I’m eager to guide Rhode through this new, promising phase filled with possibilities, joined by my Co-Founders Michael D. Ratner and Lauren Ratner, who have been instrumental in making my vision a reality from day one.
e.l.f. Beauty discovered a compatible innovator in rhode,” stated Tarang Amin, e.l.f.’s chairman and CEO. “rhode adds variety to our collection with a rapidly expanding prestige brand that focuses on making the best of luxury affordable. We are thrilled about rhode’s capacity to shatter beauty norms, perfectly mirroring e.l.f. Beauty’s ambition to establish a unique company. In our opinion, rhode is an enchanting brand poised for remarkable growth.
In recent times, the Rhode deal ranks among the largest transactions involving a celebrity-endorsed business since Ryan Reynolds’ Mint Mobile was bought by T-Mobile for 1.3 billion dollars in 2023. It seems that fields like skincare, beauty, and fashion have become especially fruitful territories for stars, social media influencers, and others to delve into. Notably, these topics are also widely used in content creation on platforms such as Instagram and TikTok. For instance, Kim Kardashian’s Skims brand is currently valued at 4 billion dollars.
As a devoted follower, I’d like to share some insights about a potential transaction: should the agreement not be finalized under specific conditions, e.l.f. Cosmetics has pledged to remit a termination fee amounting to $65 million to Rhode. The tentative date for the completion of this deal is slated for the early fiscal year 2026.
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2025-05-28 23:55