Latest news with #Bieber
The Age
an hour ago
- Entertainment
- The Age
Hailey Bieber just became a billionaire. How did we get here?
Hailey Bieber is the latest celebrity-turned-entrepreneur to join the coveted billionaire club. On Thursday morning, e.l.f. beauty, an American cosmetics brand, announced it would acquire the social media star's skincare brand Rhode for US$1 billion ($1.5 billion). The sale comes a week after it was announced Rhode would be available at American beauty retail outlets of Sephora in an exclusive partnership, and a few weeks after Bieber starred on the cover of US Vogue. Just shy of its third anniversary, Rhode's rapid ascension to a billion-dollar valuation is rather remarkable, cementing her status beyond her famous family and husband. But who is Bieber? And how did we get here? Who is Hailey Bieber? Her modelling career and marriage to pop star Justin may have helped raise her profile, but 28-year-old Bieber was born into the world of the Hollywood elite. Hailey Rhode Bieber, née Baldwin, is the daughter of actor Stephen Baldwin, younger brother to Alec Baldwin. Her mother is graphic designer Kennya Deodato Baldwin, daughter of Brazilian musician Eumir Deodato. Bieber started working in the entertainment industry early, starring with her family aged nine in television documentary Livin It: Unusual Suspects and appearing alongside uncle Alec Baldwin in a 2009 episode of Saturday Night Live. At 18, Bieber signed with modelling agency Ford launching a successful career in the fashion industry fronting campaigns for brands like Guess, Levis and Ralph Lauren and featuring in magazines like Vogue and Harper's Bazaar.
Sydney Morning Herald
an hour ago
- Entertainment
- Sydney Morning Herald
Hailey Bieber just became a billionaire. How did we get here?
Hailey Bieber is the latest celebrity-turned-entrepreneur to join the coveted billionaire club. On Thursday morning, e.l.f. beauty, an American cosmetics brand, announced it would acquire the social media star's skincare brand Rhode for US$1 billion ($1.5 billion). The sale comes a week after it was announced Rhode would be available at American beauty retail outlets of Sephora in an exclusive partnership, and a few weeks after Bieber starred on the cover of US Vogue. Just shy of its third anniversary, Rhode's rapid ascension to a billion-dollar valuation is rather remarkable, cementing her status beyond her famous family and husband. But who is Bieber? And how did we get here? Who is Hailey Bieber? Her modelling career and marriage to pop star Justin may have helped raise her profile, but 28-year-old Bieber was born into the world of the Hollywood elite. Hailey Rhode Bieber, née Baldwin, is the daughter of actor Stephen Baldwin, younger brother to Alec Baldwin. Her mother is graphic designer Kennya Deodato Baldwin, daughter of Brazilian musician Eumir Deodato. Bieber started working in the entertainment industry early, starring with her family aged nine in television documentary Livin It: Unusual Suspects and appearing alongside uncle Alec Baldwin in a 2009 episode of Saturday Night Live. At 18, Bieber signed with modelling agency Ford launching a successful career in the fashion industry fronting campaigns for brands like Guess, Levis and Ralph Lauren and featuring in magazines like Vogue and Harper's Bazaar.
Yahoo
an hour ago
- Business
- Yahoo
E.l.f.'s acquisition of Hailey Bieber's Rhode is a $1 billion bet on Gen Alpha
Budget beauty giant e.l.f. has finalized a $1 billion deal to acquire Rhode, social media influencer Hailey Bieber's skincare brand. Rhode generated $212 million in net sales in the past 12 months ending in March 31. E.l.f CEO Tarang Amin told Fortune he sees the brand as having 'real staying power.' Budget beauty giant e.l.f. continues its wooing of Gen Z and Gen Alpha consumers with a deal to buy influencer Hailey Bieber's cosmetic brand Rhode. The Oakland-based cosmetics company signed a definitive agreement to acquire Rhode in a deal valued at $1 billion, the company announced Wednesday. The deal consists of $800 million in cash and stock to be paid at closing, as well as a potential $200 million in earnout consideration over the next three years, contingent on Rhode's performance after the sale. 'We found a like-minded disruptor in Hailey Bieber and the Rhode team,' e.l.f CEO Tarang Amin told Fortune. 'I've been in the consumer space for 34 years. I've never seen a business like this….It's just incredible the level of consumer fervor and community that this brand has been able to build.' Founded in 2022, Rhode launched with three products, marketing itself as a minimalist, curated brand of essential must-haves, bolstered by Bieber's own popularity. Bieber, the daughter of actor Stephen Baldwin and now married to pop star Justin Bieber, has garnered a following of 55 million on Instagram and more than 15 million on TikTok. Rhode generated $212 million in net sales in the past 12 months ending in March 31, according to the press release. Bieber was considering selling the brand last month, Reuters first reported, tapping JPMorgan Chase and Moelis to help with the deal. Rhode, built as a direct-to-consumer brand, will also make its brick-and-mortar retail debut, selling its products in U.S.,Canada, and UK Sephora locations by the end of the year. E.l.f. announced the acquisition alongside its fourth-quarter and full fiscal 2024 earnings, posting $332.6 million in quarterly net sales, a 4% year-over-year increase, as well as a 28% boost in year-over-year annual net sales to $1.3 billion. The company did not provide fiscal 2026 guidance due to tariff uncertainty. Amin hailed e.l.f.'s ability to attract Gen Z and Gen Alpha shoppers, saying, 'We have the consumers everyone wants.' While the young generation has a trepidatious economic outlook, they are willing to spend on skincare and beauty. According to Piper Sandler's spring 2025 Taking Stock with Teens survey of 6,455 teenagers, 57% of respondents had a worse outlook on economic trends compared to 19% who reported a better outlook. Yet teenagers increased their spending from the prior year, and the beauty category led the way with $374 in spending, a 10% year-over-year jump. Teenagers ranked e.l.f. as their top beauty brand. E.l.f.'s acquisition of Rhode aligns with Amin's observations around Gen Alpha and Gen Z's growing interest in wellness as a complement to cosmetics. 'We see a real blurring of the lines, actually, even between cosmetics and skincare,' Amin said. 'Having skincare benefits in even your cosmetics has proven to be really successful for us.' Rhode's products like Peptide Lip Treatments and Glazing Milk toner encapsulate this marriage of skincare and beauty. Bieber's 'glazed donut skin' technique of applying products to make one's face appear glossy like the eponymous confection went viral on social media. While e.l.f. is betting on Bieber's vision, not all collaborations between beauty brands and social media stars have paid off. Sephora pulled the product lines of Addison Rae's Item Beauty and Hyram Yarbro's Selfless by Hyram in 2023 after launching the respective partnerships in 2021. Amin said e.l.f.'s new acquisition would not suffer the pitfall of short-lived hype. 'Rhode is a brand where consumers will camp out overnight, wait 14 hours in a line for a pop-up in LA, not not just for the product, but to buy into the entire lifestyle of the brand,' Amin said. 'So that is the thing that we believe has real staying power: her instincts, her aesthetic, her vision for this brand.' This story was originally featured on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 hours ago
- Business
- Yahoo
e.l.f. Beauty buys Hailey Bieber's Rhode skin-care brand for $1 billion
Model and entrepreneur Hailey Rhode Bieber came up with a billion-dollar idea—and now cosmetics giant e.l.f. Beauty is paying that sum to acquire it. On Wednesday, e.l.f. Beauty announced it would acquire the Rhode lifestyle brand founded by Bieber, paying $800 million in cash and stock payable at closing, plus an additional potential earnout of $200 million based on Rhode's growth over the next three years. Bieber, who is married to singer Justin Bieber and is the daughter of actor Stephen Baldwin, launched Rhode in 2022. '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,' Bieber said in a statement. Rhode is a 'disruptor in the beauty space,' e.l.f. Beauty CFO Mandy Fields told Fortune. 'Hailey has built a brand that has gone from zero dollars to $212 million in less than three years.' Rhode, which focuses on makeup and skin care, has built a strong direct-to-consumer business. The brand launched with three core products—the Peptide Glazing Fluid, Barrier Restore Cream, and Peptide Lip Treatment—and has since expanded its offerings. The buzz on social media for Rhode is tangible, with more than 3 million followers on Instagram. Rhode generated $248 million in earned media value (EMV) in 2024, up approximately 366% year over year, according to CreatorIQ, an influencer marketing tool. Bieber's personal Instagram account has 54 million followers. Rhode's products are currently available on and plans are in the works to launch its first physical in-store partnership with Sephora across North America and the U.K. later this year. In the cosmetics world, Rhode is considered to be in the entry-level prestige category, while e.l.f. Beauty is more mass-market. Acquiring Rhode helps diversify e.l.f. Beauty's customer base, channels, and supply chain, Fields said. Rhode has production in the U.S., other parts of Asia, and Europe. 'We have a disciplined approach to M&A,' Fields explained. The company acquired the skin-care brand Naturium in 2023 for $355 million, doubling e.l.f. Beauty's presence in skin care. 'Rhode further diversifies our portfolio with a fast-growing brand that makes the best of prestige accessible,' e.l.f. Chairman and CEO Tarang Amin said in a statement. e.l.f. Beauty is a favorite brand among Gen Z and is gaining popularity with millennials and Gen X. Bieber is among its celebrity and influencer connections. The company has also collaborated with actress Jennifer Coolidge and singers Meghan Trainor, Alicia Keys, and Manuel Turizo. Bieber will continue as founder and will also serve as Rhode's chief creative officer and head of innovation, overseeing creative direction, product innovation, and marketing. 'I look forward to leading the brand into this exciting new chapter of possibilities alongside my cofounders Michael D. Ratner and Lauren Ratner,' she said. Earlier this year, Bieber tapped investment bankers at JPMorgan Chase and Moelis to find a buyer for the cosmetics brand, according to reports. Sales of celebrity-founded beauty brands surpassed $1 billion in 2023, representing 57.8% year-over-year growth—far outpacing the overall beauty industry's growth rate. This story was originally featured on
Yahoo
3 hours ago
- Business
- Yahoo
e.l.f. Beauty buys Hailey Bieber's Rhode skin-care brand for $1 billion
Model and entrepreneur Hailey Rhode Bieber came up with a billion-dollar idea—and now cosmetics giant e.l.f. Beauty is paying that sum to acquire it. On Wednesday, e.l.f. Beauty announced it would acquire the Rhode lifestyle brand founded by Bieber, paying $800 million in cash and stock payable at closing, plus an additional potential earnout of $200 million based on Rhode's growth over the next three years. Bieber, who is married to singer Justin Bieber and is the daughter of actor Stephen Baldwin, launched Rhode in 2022. '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,' Bieber said in a statement. Rhode is a 'disruptor in the beauty space,' e.l.f. Beauty CFO Mandy Fields told Fortune. 'Hailey has built a brand that has gone from zero dollars to $212 million in less than three years.' Rhode, which focuses on makeup and skin care, has built a strong direct-to-consumer business. The brand launched with three core products—the Peptide Glazing Fluid, Barrier Restore Cream, and Peptide Lip Treatment—and has since expanded its offerings. The buzz on social media for Rhode is tangible, with more than 3 million followers on Instagram. Rhode generated $248 million in earned media value (EMV) in 2024, up approximately 366% year over year, according to CreatorIQ, an influencer marketing tool. Bieber's personal Instagram account has 54 million followers. Rhode's products are currently available on and plans are in the works to launch its first physical in-store partnership with Sephora across North America and the U.K. later this year. In the cosmetics world, Rhode is considered to be in the entry-level prestige category, while e.l.f. Beauty is more mass-market. Acquiring Rhode helps diversify e.l.f. Beauty's customer base, channels, and supply chain, Fields said. Rhode has production in the U.S., other parts of Asia, and Europe. 'We have a disciplined approach to M&A,' Fields explained. The company acquired the skin-care brand Naturium in 2023 for $355 million, doubling e.l.f. Beauty's presence in skin care. 'Rhode further diversifies our portfolio with a fast-growing brand that makes the best of prestige accessible,' e.l.f. Chairman and CEO Tarang Amin said in a statement. e.l.f. Beauty is a favorite brand among Gen Z and is gaining popularity with millennials and Gen X. Bieber is among its celebrity and influencer connections. The company has also collaborated with actress Jennifer Coolidge and singers Meghan Trainor, Alicia Keys, and Manuel Turizo. Bieber will continue as founder and will also serve as Rhode's chief creative officer and head of innovation, overseeing creative direction, product innovation, and marketing. 'I look forward to leading the brand into this exciting new chapter of possibilities alongside my cofounders Michael D. Ratner and Lauren Ratner,' she said. Earlier this year, Bieber tapped investment bankers at JPMorgan Chase and Moelis to find a buyer for the cosmetics brand, according to reports. Sales of celebrity-founded beauty brands surpassed $1 billion in 2023, representing 57.8% year-over-year growth—far outpacing the overall beauty industry's growth rate. This story was originally featured on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
