Hailey Bieber's beauty brand Rhode sold in a $1 billion deal
Hailey Bieber is seriously leveling up. The 28-year-old model and beauty mogul just struck a massive deal to sell her skincare brand, Rhode, to e.l.f. Beauty—and it's worth up to a jaw-dropping $1 billion.
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Yep, you read that right. Rhode, the clean, minimalist beauty line she launched in 2022 (named after her middle name), has blown up big time in just a couple of years. The brand's gone viral on TikTok thanks to fan-favorite products like the Peptide Lip Treatment. It's safe to say Hailey's glow has turned into gold.
So, what's the deal exactly? e.l.f. Beauty, the popular drugstore brand behind affordable makeup hits, is shelling out $800 million in a mix of cash and stock right now.
There's also a chance for an extra $200 million down the line, depending on how well Rhode performs after the takeover. That brings the total potential value to a cool billion.
Hailey's not stepping away, though
She'll stay on board as chief creative officer, continuing to shape the brand she helped build from scratch. She said on social media that this marks 'the next chapter' for Rhode, and she's excited about the chance to go even bigger.
"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," Hailey said in the business announcement.
Rhode's had a great run so far, racking up $200 million in net sales in the past year alone.
Hailey now joins an elite club of celeb beauty entrepreneurs who've cashed in big.
In fact, 2023 was a massive year for celebrity beauty lines in general, with over $1 billion in total sales, according to Nielsen IQ.
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So Hailey's billion-dollar moment is very much part of a bigger trend—celebrities turning makeup and skincare into serious business.
And let's not forget her background—Hailey is Hollywood royalty, the daughter of actor Stephen Baldwin and niece to Alec, William, and Daniel Baldwin. She's also married to pop superstar Justin Bieber, and the couple just welcomed their first child.
Funny enough, in a recent Vogue interview (before the deal went public), Hailey said the success of Rhode had already gone beyond anything she imagined.
'In my wildest dreams, it's already gone beyond what I would've hoped for,' she said.
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