Latest news with #ELFBeauty
Wall Street Journal
a day ago
- Business
- Wall Street Journal
The Score: E.l.f. Beauty, Tesla, Nvidia, and More Stocks That Defined the Week
The Score is a weekly review of the biggest stock moves and the news that drove them. E.l.f. Beauty ELF 0.58%increase; green up pointing triangle is acquiring Hailey Bieber's beauty brand, giving the cosmetics company's stock a major glow-up.
Business Insider
2 days ago
- Business
- Business Insider
$18 lip gloss and 'glazed donut' skin: How Rhode made its mark on the beauty world in 3 years
Hailey Bieber's Rhode was just sold to ELF Beauty for a billion dollars. Rhode, a skincare-makeup hybrid brand, sells just 10 products in minimalist packaging. From $18 affordable luxury products to a strong social media presence, here's what the brand did right. In 2022, model Hailey Bieber launched a skincare brand with just a handful of products encased in unassuming packaging. Three years on, it's being acquired by ELF Beauty for a billion dollars. The brand, known for its hybrid products that work as both skincare and makeup, sells only 10 products. But it's moving fast in the market — ELF's CEO, Tarang Amin, said in the company's earnings call on Wednesday that Rhode achieved sales of $212 million in the last 12 months. Bieber announced the acquisition in a Wednesday post on Instagram. View this post on Instagram A post shared by Hailey Rhode Bieber (@haileybieber) "I found a like-minded disruptor with a vision to be a different kind of company that believes in big ideas and innovation in the same way that I do and will help us continue to grow the brand," Bieber said in her post. Amin said Bieber would continue to run the show after the acquisition as the brand's chief creative officer. "On the Rhode side, Hailey is a visionary and her unique perspective, tenacity, and passion to reinvent beauty come through in every aspect of the business," Amin said. From creating $18 affordable luxury products to building a robust social media presence, here's what the brand did right. Representatives for Rhode did not respond to a request for comment from Business Insider. Leaning into Hailey Bieber's "It Girl" aesthetic It's hard to separate Bieber's brand from her — she's one of Gen Z's iconic "It Girls." "Rhode's strong resonance with Gen Z and Gen Alpha—thanks to Hailey Bieber's 'it-girl' influence and viral social media presence—strengthens ELF's connection to younger consumers," said Charlie Scott, the founder of Singapore-based brand consultancy Tangible. Her influence also extends to the millennial space, in part because of her high-profile relationship with 2010s pop star Justin Bieber. "She's married to Justin Bieber, so she has this weird crossover appeal where she's both a model and influencer and connected to millennial nostalgia," said Antonio Fernandez, the CEO of Thailand-based marketing agency Relevant Audience. But it isn't just who she's married to — she's a trendsetter in her own right. Bieber coined the "glazed donut skin" trend in 2021 — referring to the skincare routine that helps make one's appear healthy, glossy and dewy. "My standard when I go to bed at night is that if I'm not getting into bed looking like a glazed donut, then I'm not doing the right thing," she said in a YouTube video on her channel in 2021. Fernandez said Bieber's social media game has been a difference-maker — particularly in how she's turned skincare routines into viral content pieces that move product. The "glazed donut" trend, for instance, has since inspired "glazed donut nails" on TikTok and the viral $20 Strawberry Skin Glaze smoothie at Erewhon. Not trying to be everything to everyone And the packaging matters, too. Scott said Rhode's brand language of minimalist packaging, soft lighting, and the dewy "glazed donut" look reinforces Rhode's identity and sets it apart from more maximalist, or color-focused brands. Rhode sells only 10 products, the bulk of which are skincare-focused. These include a cleanser, lip balms, blush, moisturizer, and others. The product packaging is as restrained as the product selection, with neutral grays, beiges, and browns. "This minimalism, paired with affordable pricing and ingredient transparency, directly tapped into the 'skinimalism' and 'Clean Girl' trends popular with Gen Z and young millennials," Scott added. Teng Chan Leong, the CEO of Skribble, a Malaysia-based marketing agency, said Rhode had distinguished itself by not "trying to be everything to everyone." "Instead, it's nailing one category with cultural relevance and quietly building brand equity," Teng said. Affordable prices On another front, Rhode's products also land in the sweet spot of affordable luxe, the branding experts told BI. Teng said Rhode offers high-performing skincare at accessible price points. Its most popular item, the Peptide Lip Tint, retails for $18, while its Pineapple Refresh cleanser goes for $30. "In an age of rising living costs, Rhode's affordable-yet-chic positioning gives it a clear advantage," Teng said. "It's that 'affordable luxury sweet spot that Gen Z loves — they want to feel bougie without breaking the bank," Fernandez, the marketing expert, said. "Rhode hit the perfect price point - expensive enough to feel premium but not so expensive that regular people can't afford it," Fernandez added. ELF acquisition The ELF takeover could be mutually beneficial to both brands — expanding ELF's offerings while helping Rhode reach a larger consumer base. "ELF cosmetics is about $6.50 in its core entry price point, Rhode, on average, is in the high 20s, so I'd say it does bring us a different consumer set to the company overall, but the same approach in terms of how we engage and entertain them," Amin told CNBC in an interview. Scott said Rhode now has access to ELF's retail partnerships, including Walmart, Target, and Ulta. "This takeover could help Rhode transition beyond its current direct-to-consumer and limited pop-up model, leveraging ELF's extensive distribution network and retail partnerships to reach a broader, global audience," he said. For ELF, the Rhode takeover means an entry into the prestige skincare category, said Teng. "They're buying credibility with Gen Z and a way into the premium market. ELF is known for cheap drugstore makeup, but Rhode sits in that $20-30 sweet spot that screams 'affordable luxury,'" said Fernandez. "The $1 billion price tag honestly makes sense when you look at how fast they grew and how culturally relevant they became. ELF is basically buying a cultural moment and betting it can turn into a lasting brand," Fernandez added.
Bloomberg
2 days ago
- Business
- Bloomberg
Mandy on $1B Dollar to buy Hailey Bieber's Rhode Brand
E.l.f. Beauty announcing it will buy Hailey Bieber's brand, Rhode for $1 billion dollars. The move gives the cosmetics retailer access to a product line that has become hugely popular among Gen Z and millennials. E.l.f Beauty CFO Mandy Fields joined Bloomberg Open Interest to talk about the deal. (Source: Bloomberg)
Daily Mail
3 days ago
- Business
- Daily Mail
Fans tell Hailey Bieber to divorce Justin and protect her fortune after she lands BILLION-DOLLAR Rhode deal... and he reacts VERY coolly
Fans have joked that Hailey Bieber should split with husband Justin Bieber now that she's sold her Rhode beauty brand an eye-watering sum. The model, 28, announced on Wednesday that Rhode had been acquired by E.l.f. Beauty in a deal that valued her three-year-old company at $1 billion. The deal sent fans into a frenzy, with many calling for the nepo baby to ditch Justin now that she's found fame and fortune on her own. 'Just a casual Hailey Bieber observer but she needs to take that $1B money and run from that man,' wrote one. Another joked, 'HAILEY GET THAT DIVORCE NOW BEFORE JUSTIN STEAL THAT MONEY.' Meanwhile, Justin had a very measured response to Hailey's big brand deal following the backlash he received over his reaction to her first Vogue cover. Instead of writing a gushing caption about Hailey's success, Justin instead just reposted Hailey's own statement to his page. Fans were quick to notice his silence, with many stating that Hailey must have now banned him from writing social media captions. 'Daddy's not allowed to do captions anymore,' wrote one, while another added, 'Bro's in caption jail.' A third wrote, 'Not writing a caption but posting hers , she def yelled at him lmao.' Earlier this month, Bieber was on the receiving end of substantial backlash after revealing he cruelly told Hailey that she would never grace the cover of Vogue during a heated argument. On the same day his spouse, 28, achieved her dream, the troubled pop star divided the internet over his Instagram post congratulating her on the feat. The Sorry hitmaker's sense of humor did not land with his or Hailey's fans as he divulged why her Vogue cover was a full circle moment for them as couple. 'Yo this reminds me when Hailey and I got into a huge fight, I told hails that she would never be on the cover of vogue, Yikes I know, so mean, For some reason because I felt so disrespected I thought I gotta get even,' he explained. Justin continued: 'think as we mature we realize that we're not helping anything by getting even, we're honestly just prolonging what we really want which is intimacy and connection.' He concluded his post by writing a message directly to Hailey, which read: 'So baby u already know but forgive me for saying u wouldn't get a vogue cover cuz clearly i was sadly mistaken.' Many saw his caption as a backhanded compliment and something 'so unnecessary' to share with his more than 294 million Instagram followers. 'It's okay to have secrets Justin,' one commented. 'Why would you write something like that... put that phone down please,' a third urged. Others criticized him for accidentally writing 'sadly mistaken' versus 'happily' mistaken, since he obviously meant to congratulate her on the achievement.
