Latest news with #Oakland-based
San Francisco Chronicle
3 days ago
- Business
- San Francisco Chronicle
Oakland-based cosmetics company buys Hailey Bieber's Rhode brand for $1 billion
Oakland-based E.l.f. Beauty has purchased Hailey Bieber's skin care and makeup brand Rhode for $1 billion. Bieber, a model, entrepreneur and the wife of pop singer Justin Bieber, started the casual beauty brand in 2022. 'I always had big dreams for the company, and the most important thing to me is to keep bringing (Rhode) to more spaces, places, and faces globally,' the social media mogul wrote in an Instagram post Wednesday, May 28, while announcing the deal. '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 will now step into a larger role at the company, serving as its chief creative officer and head of innovation, in addition to acting as a strategic adviser to the combined companies. The acquisition is made up of $800 million in cash and stock and an additional $200 million payout dependent on Rhode's growth and performance over the next three years. E.l.f., created in 2004, is headquartered on 10th Street in Downtown Oakland, and its purchase of Rhode marks the company's largest to date. The East Bay company previously acquired skin care brand Naturium in 2023 for $355 million. E.l.f. reportedly praised Rhode's 'powerful engagement model' during its earnings call following the announcement on Wednesday, according to CNN, with CEO Tarang Amin noting that 'One of the things we really like about Rhode is just how tight the product assortment is.' Bieber launched Rhode, which is her middle name, as a skin care line but has since expanded to include an array of makeup products including blushes, lip balms and lip liners. There are currently 10 products available. Rhode made $212 million in net sales in its last fiscal year, which ended in March, gaining popularity among younger consumers in particular. Previously only available online and during rare in-person pop-ups, the brand announced earlier this year that products would be hitting the shelves of Sephora in North America and the United Kingdom soon. News of the acquisition comes as her husband is rumored to be on the verge of 'financial collapse' after having to sell his music catalog in December 2022, according to a TMZ documentary, 'TMZ Investigates: What Happened to Justin Bieber?' Available on Hulu, the film alleges that Bieber's financial troubles began when he was plunged into debt for pulling out of his 'Justice' world tour in 2022.
Yahoo
3 days 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
Miami Herald
4 days ago
- Health
- Miami Herald
Target, Walmart offer controversial birth control product
While any woman will tell you that birth control is a hassle when it comes to remembering to take your pill on time, for those of us not ready or interested in having a child, it's irreplaceable. While birth control has been around since the FDA approved the pill in 1960, the topic is a fraught one in today's America, where many voices believe it should not be available or used at all. Don't miss the move: Subscribe to TheStreet's free daily newsletter Project 2025, the much-discussed political initiative authored by The Heritage Foundation and designed for a second term of President Donald Trump, contains a detailed agenda on abortion, designed to prevent it to the greatest extent possible. One thing the plan focuses on is eliminating the sales of mifepristone, a medication used to terminate early pregnancies. The plan also aims to dismantle U.S. abortion access, restrict the use of federal funds for abortion care and coverage, and dismantle the abortion protections provided under the Emergency Medical Treatment and Labor Act (EMTALA), forcing abortion doctors to choose between saving a patient's life or being faced with criminal charges. Related: How This Doctor Started Her Own Birth Control Delivery Business In short, should Project 2025 graduate from roadmap to reality, American women in need of an abortion may find themselves in an even more difficult situation than the current one. Since the 2022 rollback of Roe v. Wade, 11 states have made abortion illegal, including Alabama, Arkansas, Idaho, Kentucky, Louisiana, Mississippi, Missouri, Oklahoma, South Dakota, and Tennessee. Emergency contraception deserts, as they're called, are popping up all over America, and misinformation about abortion care continues to worsen in the current political climate. But women's health advocates are actively working on a plan that makes access to the morning-after pill easier for those who need it. As thousands of drugstore locations continue to shutter due to rising costs, increased competition and shrinking reimbursement rates, they've become an unreliable place to find a morning-after pill if you're looking for one. Cadence OTC, an Oakland-based company that makes an emergency contraception pill, has focused on getting its product in a new location to make it even more accessible: convenience stores. To accomplish this, the company forged a partnership with Lil' Drug Store Products, which is the U.S. supplier of health products to convenience stores. So far, 11,000 locations across 48 states carry the product, which can be purchased over the counter and does not require a prescription. Related: Levi Strauss Calls Abortion Access a 'Critical Business Issue.' Here's Why. "Urgent health care products are a logical expansion space for C-stores, and the profit margins are generally higher than [for] food and soft drinks," Cadence told UPI in an interview. "Ninety percent of C-stores already carry condoms, so it makes sense to offer female contraceptives as well." Plan B, another morning-after pill that uses levonorgestrel to prevent pregnancy after unprotected sex, can also be found at a variety of retailers, including Walmart, Target, Rite Aid, Walgreens, and CVS Pharmacy. Ever since the 2022 ruling of Dobbs v. Jackson Women's Health Organization that allowed states to enact local abortion bans, a rise in misinformation has left many women in need of abortion care confused and unsure of what to do. There's a growing confusion around the differences among levonorgestrel, mifepristone, and misoprostol, with many people believing that all three induce medical abortions. The morning-after pill uses levonorgestrel, which is a synthetic hormone that prevents the release of the egg that would normally lead to pregnancy. Half of women between the ages of 18-49 either believe the morning-after pill is illegal in their state or are "unsure," according to a 2023 poll from health policy research organization KFF. The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Yahoo
6 days ago
- Entertainment
- Yahoo
Social Rundown: e.l.f. Cosmetics, robots boxing match, and Oregon man sails to Hawaii
WICHITA FALLS (KFDX/KJTL) — Welcome back to the Social Rundown, where you can learn about the online trends happening globally and in Texoma, too! Want to get the latest tea or news on what's trending on social media? Tune in daily! e.l.f. Cosmetics raise prices Oakland-based e.l.f. Comestics, known for its affordable and cruelty-free products, announced on Instagram that it will raise its prices by $1 beginning in August due to increasing tariffs and inflation. Nothing crazy! Robots in the boxing ring Traveling to China, this story is out of this world! A boxing match between two humanoid robots took place in China on Sunday, May 25. It was a competition, part of the China Media Group World Robot Competition, where these robots showed off several combat skills. First-time sailor goes viral. Oliver Widger and his cat Phoenix set sail from Oregon to Hawaii in April after Widger quit his job, deciding there was more to life than work. After their documented TikTok videos attracted media attention, the pair arrived in Hawaii to a cheerful crowd, greeted by the Governor, Josh Green. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Time of India
24-05-2025
- Entertainment
- Time of India
Stephen Curry's oversized TIME 100 suit sparks wild reaction, while Ayesha Curry gets love for the impact
Stephen and Ayesha Curry were celebrated at the TIME 100 Impact Dinner for their Eat. Learn. Play. Foundation's work in combating childhood hunger and promoting literacy. While Ayesha's elegant gown received praise, Stephen's oversized olive green suit sparked playful online reactions and meme comparisons. Despite the fashion critiques, their foundation's significant community impact remains the focus. Stephen Curry and Ayesha Curry were honored this week at the TIME 100 Impact Dinner in New York City for their work with the Eat. Learn. Play. Foundation, but while the award spotlight was on their community impact, online attention shifted quickly to what they wore. The couple, who launched their Oakland-based nonprofit in 2019, were recognized for their work in tackling childhood hunger, improving literacy, and creating safe play spaces. But as photos from the event surfaced, so did a flood of reactions, especially aimed at Steph's fashion choice. Ayesha Curry praised for the honor and Stephen Curry's outfit sparked funny reactions Ayesha shared a carousel of photos from the evening, thanking TIME for the recognition. 'Thank you to @time for an inspiring evening and for recognizing the work of @eatlearnplay. We are so grateful,' she wrote. Image via @ayeshacurry She wore a black two-piece gown with sheer cutouts and silver detailing. While her look didn't set the fashion world buzzing, fans and followers filled her comments with praise for the foundation and the recognition itself. The congratulations leaned more into 'mission accomplished' than 'best dressed.' Steph, however, stole a different kind of spotlight. The Golden State Warriors star wore a roomy olive green three-piece suit with black loafers. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Добро пожаловать в Аравию SAUDI Забронировать Undo Online, fans had questions and plenty of jokes. 'Steph looks like that suit is swallowing him,' wrote one user. 'Wtf is that suit, my glorious king Wardell?' another added. The reactions were playful, but the outfit quickly became meme material, circulating on basketball fan pages and fashion threads alike. Some compared the fit to oversized '90s suits, others said it gave 'NBA draft day energy.' The recognition at TIME 100 came just a week after the Warriors ended their playoff run, falling to the Minnesota Timberwolves in a 4–1 semifinal series. Stephen Curry exited early in Game 1 with a hamstring injury and didn't return for the rest of the series. Without him, Golden State struggled to stay afloat. Despite the early playoff exit and fashion critiques, the couple continues to lead with purpose. Their foundation has served millions of meals and helped close reading gaps in Oakland, impact that outshines any red carpet misstep. Also Read: Stephen Curry and Ayesha Curry's relationship timeline revisiting key milestones of NBA power couples personal life Get IPL 2025 match schedules , squads , points table , and live scores for CSK , MI , RCB , KKR , SRH , LSG , DC , GT , PBKS , and RR . Check the latest IPL Orange Cap and Purple Cap standings.
