Cosmetics giant to acquire Hailey Bieber's Rhode in colossal $1 BILLION deal
E.l.f. Cosmetics has acquired Hailey Bieber 's skincare and beauty line, Rhode, in a new deal that is worth $1 billion, the companies announced Wednesday.
Bieber first launched the much-anticipated brand in June 2022, releasing only three products at the time - Peptide Glazing Fluid, Barrier Restore Cream, and Peptide Lip Treatment.
Since then, the brand has grown immensely, expanding into different tinted lip products, blush and even viral phone cases made to fit your lip gloss inside.
'e.l.f. Beauty found a like-minded disruptor in rhode,' said e.l.f. Chairman and CEO Tarang Amin Wednesday, per Business Wire.
'rhode further diversifies our portfolio with a fast-growing brand that makes the best of prestige accessible,' his statement continued.
'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.'
e.l.f. cosmetics is currently sold at a variety of stores, like Ulta and Walmart.
They offer all different kinds of makeup products at relatively low price points, with mega stars like Jennifer Coolidge working as a spokesperson over the past year.
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