E.l.f. Buys Hailey Bieber’s Rhode Cosmetics Brand in $1 Billion Deal
Hailey Bieber has sold her skincare brand, Rhode, to e.l.f. Beauty in a landmark $1 billion deal announced on May 28, 2025. The acquisition includes $800 million in cash and stock at closing, with an additional $200 million contingent on Rhode's performance over the next three years .Fox Business+9Page Six+9E! Online+9
Founded in 2022, Rhode quickly gained popularity, generating $212 million in sales in the year ending March 31, 2025 . Its minimalist product line and strong social media presence, particularly among Gen Z consumers, contributed to its rapid success .The US Sun+5WSJ+5Fox Business+5Reuters
Hailey Bieber will continue to lead Rhode as Chief Creative Officer and Head of Innovation, overseeing creative direction, product development, and marketing. She will also serve as a strategic advisor to e.l.f. Beauty .WSJ+6People.com+6Wikipédia+6
This acquisition allows e.l.f. Beauty to diversify its portfolio and expand into the prestige skincare market. It also offers an opportunity to mitigate supply chain risks, as Rhode's suppliers are located in the U.S., Europe, and other parts of Asia, reducing reliance on Chinese manufacturing amid tariff uncertainties .E! Online+5Business Wire+5Fox Business+5WSJ
The deal is expected to close in the second quarter of fiscal 2026, pending regulatory approvals .Business Wire+1MarketWatch+1