E.l.f. Beauty to Acquire Hailey Bieber’s Rhode for $1 Billion USD

Summary

E.l.f. Beauty has officially acquired Hailey Bieber’s skincare brand, Rhode in a $1 billion deal USD
Hailey Bieber will continue as Rhode’s founder and take on expanded responsibilities as Chief Creative Officer and Head of Innovation for Rhode

E.l.f. Beauty has announced a definitive agreement to acquire Rhode, the fast-growing skincare brand founded by Hailey Bieber, in a blockbuster $1 billion deal USD. This strategic move aims to further diversify e.l.f. Beauty’s portfolio and bolster its presence in the prestige beauty segment. The deal is structured with $800 million payable at closing (a combination of cash and stock) and a potential additional earnout of $200 million based on Rhode’s future growth over three years.

Since its launch in 2022, Rhode has rapidly gained traction, generating $212 million in net sales in the 12 months ending March 31, 2025, and more than doubling its consumer base. Hailey Bieber will continue in her role as founder and will also take on expanded responsibilities as Chief Creative Officer and Head of Innovation for Rhode, providing strategic advice to the combined companies. In an interview with WWD, Bieber said, “They support founders, they want to help push the founders’ vision and get behind them. That’s where we are with Rhode, and I’m ready to get to the next place.” The deal allows for international expansion or as Bieber implied, “more places, more faces.” On partnering with E.l.f, Bieber said, “This is my baby, and to find a home for it is really not an easy process — it’s very scary. When I met the E.l.f. team, we had a lot of similarities when it came to the importance of community and team building.”

E.l.f. Beauty CEO Tarang Amin stated that e.l.f. “found a like-minded disruptor in Rhode,” emphasizing Rhode’s ability to “break beauty barriers” and align with e.l.f.’s vision of creating a different kind of beauty company. Rhode’s products, currently sold directly to consumers, are also slated for a physical in-store launch with Sephora across North America and the U.K. later this year, signaling a significant expansion of its distribution.