Beauty icon Hailey Bieber announced on Wednesday that her skincare and makeup brand, Rhode, is being acquired by affordable cosmetics giant e.l.f. Beauty in a deal valued at $1 billion. This marks a major step for the relatively young brand, launched just three years ago.
Details of the Acquisition
The deal includes:
- $600 million in cash
- $200 million in e.l.f. Beauty stock
- An additional $200 million in performance-based incentives over the next three years
Hailey Bieber expressed excitement about the partnership, highlighting that it will help bring Rhode to more faces, places, and spaces globally.
Hailey Bieber’s Vision for Rhode
Named after her middle name, Rhode was founded by Bieber in 2022 with the mission to create essential skincare and hybrid makeup products that are both effective and accessible.
The brand started with just three skincare products but has since expanded into makeup and even accessories, including lip liners and specially designed phone cases for Rhode’s popular lip treatments.
Bieber said, “From day one, my vision for Rhode has been to make essential skin care and hybrid makeup you can use every day.” She also confirmed she would take on the role of chief creative officer and head of innovation for Rhode, while serving as a strategic advisor to both companies moving forward.
e.l.f. Beauty’s Perspective
Tarang Amin, Chairman and CEO of e.l.f. Beauty, praised Rhode as a “like-minded disruptor” that fits perfectly with their goal of making prestige beauty accessible. Amin said Rhode adds diversity to e.l.f.’s portfolio and is poised for “rocketship growth.”
e.l.f. Beauty is known for its presence in stores like Target and Ulta Beauty, while Rhode has so far been available exclusively online. It remains to be seen if Rhode products will expand to physical retail locations after the acquisition.
Rhode’s Product Evolution
Since its 2022 launch, Rhode has focused on science-backed formulations with a clean, inclusive approach. Early products included a peptide glazing fluid, barrier restore cream, and peptide lip treatment. Over time, the brand introduced new items like:
- Limited-edition lip treatment scents and shades (including a Krispy Kreme collaboration)
- Pineapple Refresh cleanser in 2024
- Stylish phone cases designed to hold lip treatments
- New blush shades and makeup essentials
Bieber credited co-founders Michael D. Ratner and Lauren Ratner for helping bring her vision to life.
What This Means for Fans and Shoppers
This acquisition signals major growth potential for Rhode, with access to e.l.f.’s extensive distribution network and resources. Fans can expect the brand to reach a broader audience and possibly appear in more retail stores in the future.