e.l.f. Beauty to Acquire Hailey Bieber’s Rhode in Landmark US$1 Billion Deal

THE WHAT? e.l.f. Beauty has announced a definitive agreement to acquire Rhode, the high-growth skincare and lifestyle brand founded by Hailey Bieber, in a landmark US$1 billion deal that includes US$800 million in cash and stock at closing, plus a potential US$200 million earnout tied to future growth over three years.

THE DETAILS Known for its minimalist, high-performance skincare products, Rhode has swiftly built a direct-to-consumer powerhouse, more than doubling its customer base in the past year and generating US$212 million in net sales for the 12 months ending March 2025. The brand is set to launch into physical retail through Sephora across North America and the U.K. Bieber will stay on as Founder, Chief Creative Officer, and Head of Innovation, steering the brand’s product, marketing, and creative vision. The acquisition builds on e.l.f. Beauty’s strategic diversification, following its successful 2023 acquisition of Naturium, and marks its push deeper into the prestige skincare space.

THE WHY?  For e.l.f. Beauty, bringing Rhode into its portfolio, accelerates its ambition to blend mass-market reach with prestige appeal, opening doors to new consumers, international markets, and retail partnerships like Sephora. This deal amplifies e.l.f.’s skincare presence, tapping into Hailey Bieber’s immense cultural influence and Rhode’s proven ability to generate viral consumer engagement, particularly in the high-growth hybrid skincare-makeup category.

Source: businesswire

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