Hailey Bieber's makeup brand sold to e.l.f. in $1bn deal
Summary
Hailey Bieber is selling her makeup brand Rhode to e.l.f. Beauty in a deal worth up to $1 billion. The brand, known for its skincare products, started in 2022 and has been popular online, generating significant sales. Bieber will stay involved with the brand as chief creative officer after the sale, which is set to be completed later this year.Key Facts
- Hailey Bieber’s brand is named Rhode, after her middle name.
- Rhode was co-founded in 2022 and sells products like blush and lip tints.
- e.l.f. Beauty is buying Rhode for $800 million in cash and stock, with potential for an extra $200 million based on future sales.
- The deal will finalize later this year, with Bieber continuing as chief creative officer.
- Rhode made more than $200 million in sales in the past year and plans to sell in Sephora in the US and UK.
- The brand gained popularity on social media, particularly through TikTok.
- Hailey Bieber is married to singer Justin Bieber and is related to actor Stephen Baldwin.
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