Hailey Bieber is on the rhode to going global.
The 28-year-old has officially sold her Rhode Skin company to e.l.f. Beauty for $1 billion, the cosmetics brand confirmed in a May 28 press release.
The acquisition is comprised of $800 million in cash and stock provided to Rhode owners—including CEO Nick Vlahos, Bieber and her cofounders Lauren Ratner and Michael D. Ratner—at the deal’s closing, in addition to an additional $200 million of potential earnout based on “future growth of the brand over a three-year timeframe,” per the release.
Following the announcement, Hailey—who will remain Chief Creative Officer and Head of Innovation at Rhode, as well as work as a strategic advisor for e.l.f.—reflected on how much she’s achieved with her skincare brand since launching it in 2022 and why teaming up with e.l.f. felt like a good fit.
“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,” Hailey wrote in a May 28 Instagram post. “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.”
