e.l.f. Beauty acquires Hailey Bieber's Rhode for $1 billion
Hailey Bieber has reached an agreement with e.l.f. Beauty to sell the company her skin-care brand, Rhode, for $1 billion (P55 billion).
In a press release obtained by PEOPLE, Rhode's acquisition comes after it was named the top skincare brand in Earned Media Value in 2024, representing a 367% year-over-year growth in EMV.
Bieber will continue her role as founder, but she now has the added responsibility of being Rhode's chief creative officer and head of innovation, where she will be in charge of creative product innovation and marketing and serve as a strategic advisor to the combined companies.
The model also announced the deal on her Instagram page, noting that she "always had big dreams for the company" since she launched it in 2022.
"The most important thing to me is to keep bringing Rhode to more spaces, places, and faces globally. 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," Bieber said.
"I found a like-minded disruptor with a vision to be a different kind of company that believes in big ideas and innovation in the same way that I do, and will help us continue to grow the brand," she added.
She highlighted how she feels "invigorated, excited, and more ready than ever" with her new position and expressed her gratitude to both her team and the Rhode community.
"This next chapter is going to be even more incredible together! As I’ve said, this is only the beginning," Bieber ended.
Meanwhile, e.l.f. Chairman and CEO Tarang Amin said that the brand "found a like-minded disruptor in Rhode."
"Rhode further diversifies our portfolio with a fast-growing brand that makes the best of prestige accessible. We are excited by Rhode’s ability to break beauty barriers, fully aligning with e.l.f. Beauty’s vision to create a different kind of company. Rhode is a beautiful brand that we believe is ready for rocketship growth," Amin said.
Bieber launched her skincare brand, which was inspired by her middle name. At the time, she only released three products—the Peptide Glazing Fluid, the Barrier Restore Cream, and the Peptide Lip Treatment, but has since expanded her lineup.
Rhode only ships to a limited number of countries, including the United States, Canada, and the United Kingdom, but not the Philippines. Customers need to rely on third-party retailers to acquire their products. The same goes for e.l.f. Beauty.
