Hailey Bieber's Rhode Sold for $1 Billion: A Beauty Industry Power Play

Hailey Bieber's Rhode Skin Care Brand Acquired by e.l.f. Beauty for $1 Billion In a landmark deal that sent ripples through the beauty industry, e.l.f. Beauty announced on Wednesday its acquisition of Rhode, the skincare company founded by Hailey Bieber. The deal, valued at a remarkable $1 billion, marks one of the largest celebrity beauty acquisitions in recent years. Rhode, launched just three years ago, has quickly become a powerhouse in the skincare market. Its success is largely attributed to Bieber's strong personal brand and the popularity of its innovative products. The acquisition will see e.l.f. Beauty expand its portfolio and gain access to Rhode's loyal customer base. "Just three years into this journey, our partnership with e.l.f. Beauty marks an incredible opportunity to elevate and accelerate our ability to reach more of our community with even more innovative products and widen our distribution globally." said Hailey Bieber in a statement. The deal is expected to close between July and September, according to e.l.f. Beauty's announcement. Bieber will continue to play a key role in Rhode's future, serving as Chief Creative Officer and Head of Innovation. This ensures the brand's unique identity and aesthetic will be preserved. This acquisition signifies the growing power of celebrity-backed beauty brands and the increasing consolidation within the beauty industry. It is a testament to the success of Rhode and positions e.l.f. Beauty for further growth in the competitive market.