Hailey Bieber Joins the Beauty Billionaire Club: Rhode Sold for $1 Billion

Hailey Bieber's Rhode Skin Acquired by e.l.f. Cosmetics in a Billion-Dollar Deal In a stunning business move that sent ripples through the beauty industry, e.l.f. Cosmetics announced the acquisition of Hailey Bieber's popular skincare brand, Rhode. The deal, valued at a staggering $1 billion, solidifies Bieber's place among celebrity beauty entrepreneurs, joining the ranks of Rihanna and Selena Gomez. The acquisition structure is multifaceted. e.l.f. will pay $600 million in cash, $200 million in stock, and an additional $200 million contingent on future performance. This strategic move allows e.l.f. to expand its product line and tap into Rhode's established customer base built through social media marketing. Bieber will continue to be involved with Rhode, assuming the roles of Chief Creative Officer and Head of Innovation, while also serving as an advisor to e.l.f. 'This partnership is a perfect fit,' Bieber stated in a press release. 'I'm excited to work with e.l.f. to continue building the Rhode brand and reach even more customers.' The deal highlights the growing power of celebrity-backed beauty brands and the lucrative potential of social media marketing. Rhode's success, fueled largely by its viral presence online, makes it a highly attractive acquisition for e.l.f. The future looks bright for both companies as they leverage their combined strengths to dominate the beauty market.