Hailey Bieber hits the billionaire club at 28, but how did she get there?
(Image Credits: Instagram)
From the popular pocket blush to the multifunctional lip gloss case, Hailey Bieber's brand Rhode Beauty soon became a cult favourite amongst Generation Z. Emphasising high quality with a minimalist approach to beauty, the brand saw a direction making the owner of the house, Hailey Rhode Bieber, a billionaire club member.
Hailey Bieber's beauty brand has now been acquired by the cosmetics company, e.l.f. Beauty in a deal worth $1 billion. Named after her middle name, she launched the company in June 2022 and it became a popular mainstay in the world of skincare and cosmetics. Using the strategies of social media to the fullest, she curated a range of high-end skincare and makeup products that soon became viral on the website.
(Image Credits: Instagram)
Who is Hailey Bieber?
Hailey Rhode Baldwin married Hollywood's heartthrob, Justin Bieber, in 2018 and changed her name to Hailey Rhode Bieber.
Daughter of actor Stephen Baldwin. Stepping into the limelight in 2015 after dating Justin Bieber, the couple tied the knot in November 2018 and welcomed their first child in 2024. Founder and now the Chief Creative Officer of Rhode Beauty, she's not the first celebrity to achieve billionaire status through beauty brands, as Rihanna's Fenty Beauty and Selena Gomez's Rare Beauty are already on the list.
Inauguration of the Rhode Beauty Empire
In June 2022, Hailey Bieber joined the big fashion league and stood tall with other beauty entrepreneurs like Kylie Jenner, Selena Gomez, and Rihanna, launching Rhode Beauty, which is her middle name.
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Despite the oversaturated beauty and skincare celebrity market, she commanded her fashionable and creative energy and focused on the younger audience with iconic packaging and minimal detailing.
Hailey Bieber talks about her struggle with a skin condition called Perioral Dermatitis
Why does Gen Z love Rhode?
Rhode Beauty has made its core values clear, which include the notes of simplicity, affordability, authenticity, quality, and transparency. The root of Rhode's success lies in its exceptional branding, which involves creating a distinct identity for a company and including the values, voice, and visual elements to shape the public's perception.
Rooted in a 'less is more' philosophy, the brand has mastered its brand through social media strategies and driven awareness and sales using the power of the internet.
Why did Hailey Bieber sell Rhode at its peak?
The beauty giant e.l.f. has agreed to purchase Hailey Bieber's Rhode Beauty for $800 million in cash and $200 million in shares. The brand has promised Hailey's brand baby another $200 million, according to the brand's growth over the next three years.
However, this raised the question of why Hailey Bieber sold her brand when it was at its peak.
(Image Credits: Instagram)
The CEO of Rhode Beauty, Tarange Amin, said, ' She could have easily gotten more money from private equity or something else, but she cares about building this brand for the long term.'
But her fans are speculating something else. According to a report by The Hollywood Reporter, the financial consequences of Justin Bieber's 'Justice' tour's cancellation are the real reason.
Failing to meet his contractual duties, the 'Baby' singer owes around $20 million to the promoters. This comes after he sold his entire music catalogue for about $200 million, which also includes his master recordings.
She's the billionaire dollar spouse
Keep in mind that Rhode Beauty's sale comes at the same time as Justin's alleged financial and mental health struggles. However, Hailey Bieber's gigantic success shouldn't go unmissed amidst these cruel speculations.
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