Popular American model and media icon, Hailey Bieber, has reportedly sold her skincare and cosmetics brand, Rhode, in a high-profile acquisition deal worth $1 billion to beauty giant E.l.f Beauty.
Hailey disclosed the milestone acquisition via a post shared on her official Instagram Story on Wednesday night.
The update on her Instagram story read:
“E.I.f acquired Hailey Bieber’s Rhode in a $1 billion deal.”
According to details surrounding the agreement, E.l.f Beauty is purchasing Rhode for $800 million in cash and stock, with an extra $200 million dependent on the brand’s future sales targets and overall performance.
Although the finalization of the transaction is projected to conclude later in 2025, Hailey Bieber is expected to retain her leadership role as CEO and Head of Innovation at Rhode. Additionally, she will also serve as a strategic advisor within the E.l.f Beauty corporation.
As previously reported by LMSINT MEDIA, Hailey Bieber co-founded Rhode in the year 2022, quickly establishing the brand as a disruptive force within the beauty and skincare industry.
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