Latest news with #Rhode
Yahoo
29 minutes ago
- Business
- Yahoo
Justin Bieber Proudly Supports Hailey Bieber After She Sells Her Rhode Skincare Company for $1 Billion
Justin Bieber is celebrating Hailey Bieber's wins. Following the announcement that the model had sold her Rhode skincare company to e.l.f. Beauty for an eye-popping $1 billion on Wednesday (May 23), the pop star took to social media to champion his business-savvy wife in a sweet but subtle way. More from Billboard Justin Bieber Reflects on Telling Hailey Bieber During a Fight She'd 'Never Be on the Cover of Vogue' Shaun Cassidy Gets Ready for the Longest Tour of His 45-Year Career: 'I Felt the Need to Connect with People' 'Luther' Ties 'Not Like Us' for Most Weeks at No. 1 on Hot R&B/Hip-Hop Songs Chart On Instagram, Justin posted a glamorous photo of Hailey rocking a powerful white suit, as well as a screenshot of her own caption announcing the news on the platform. 'When I launched @rhode 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 mogul wrote on her page. 'So today I am so incredibly excited and proud to announce that we are partnering with e.l.f. Beauty … 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.' 'I feel invigorated, excited and more ready than ever to step into an even bigger role as Chief Creative Officer, and Head of Innovation of rhode as well as strategic advisor to e.l.f. Beauty,' Hailey continued in her caption. 'Thank you to the amazing rhode team who have helped me build over the years. I couldn't have done it without all of you. And to our rhode community, thank you for being the most supportive and for being on this journey, this next chapter is going to be even more incredible together!' Justin also reshared Hailey's post on his Story. The businesswoman didn't share the billion-dollar price tag of her sale in her post, but the 10-digit figure was reported by Wall Street Journal and Forbes. The latter publication breaks down the deal as being '$600 million in cash, $200 million worth of e.l.f. Beauty stock and a potential $200 million in future payouts based on the company's growth over the next three years.' The sale comes just three years after Hailey first launched Rhode, a venture for which Justin has been at her side every step of the way. The musician — who married Hailey in 2018 — has appeared with her at several events for the company, and in February, he shared photos and wrote on Instagram, 'Congrats baby on your beautiful @rhode pop up.' Hailey's major money move also comes shortly after she appeared on the cover of Vogue, getting candid in the accompanying interview about her life — both as a woman in the public eye and as a new mom to son Jack Blues, whom she welcomed with Justin in August. The 'Peaches' singer also shared a few thoughts with the publication, saying, 'I've done a lot of dumb things in my life, but the smartest thing I've ever done was marry Hailey.' Shortly afterward, he faced a bit of backlash for sharing on Instagram that he once told Hailey she'd 'never be on the cover of Vogue' during a 'huge fight' they had in the past. Justin has since removed the caption from his page, replacing it with a string of emojis, but he'd originally added, 'Yikes I know, so mean … For some reason because I felt so disrespected I thought I gotta get even.. I think as we mature we realize that we're not helping anything by getting even … So baby u already know but forgive me for saying u wouldn't get a vogue cover cuz clearly i was sadly mistaken.' Best of Billboard Chart Rewind: In 1989, New Kids on the Block Were 'Hangin' Tough' at No. 1 Janet Jackson's Biggest Billboard Hot 100 Hits H.E.R. & Chris Brown 'Come Through' to No. 1 on Adult R&B Airplay Chart 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
an hour 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
2 hours ago
- Business
- Yahoo
Justin Bieber Proudly Supports Hailey Bieber After She Sells Her Rhode Skincare Company for $1 Billion
Justin Bieber is celebrating Hailey Bieber's wins. Following the announcement that the model had sold her Rhode skincare company to e.l.f. Beauty for an eye-popping $1 billion on Wednesday (May 23), the pop star took to social media to champion his business-savvy wife in a sweet but subtle way. More from Billboard Justin Bieber Reflects on Telling Hailey Bieber During a Fight She'd 'Never Be on the Cover of Vogue' Shaun Cassidy Gets Ready for the Longest Tour of His 45-Year Career: 'I Felt the Need to Connect with People' 'Luther' Ties 'Not Like Us' for Most Weeks at No. 1 on Hot R&B/Hip-Hop Songs Chart On Instagram, Justin posted a glamorous photo of Hailey rocking a powerful white suit, as well as a screenshot of her own caption announcing the news on the platform. 'When I launched @rhode 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 mogul wrote on her page. 'So today I am so incredibly excited and proud to announce that we are partnering with e.l.f. Beauty … 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.' 'I feel invigorated, excited and more ready than ever to step into an even bigger role as Chief Creative Officer, and Head of Innovation of rhode as well as strategic advisor to e.l.f. Beauty,' Hailey continued in her caption. 'Thank you to the amazing rhode team who have helped me build over the years. I couldn't have done it without all of you. And to our rhode community, thank you for being the most supportive and for being on this journey, this next chapter is going to be even more incredible together!' Justin also reshared Hailey's post on his Story. The businesswoman didn't share the billion-dollar price tag of her sale in her post, but the 10-digit figure was reported by Wall Street Journal and Forbes. The latter publication breaks down the deal as being '$600 million in cash, $200 million worth of e.l.f. Beauty stock and a potential $200 million in future payouts based on the company's growth over the next three years.' The sale comes just three years after Hailey first launched Rhode, a venture for which Justin has been at her side every step of the way. The musician — who married Hailey in 2018 — has appeared with her at several events for the company, and in February, he shared photos and wrote on Instagram, 'Congrats baby on your beautiful @rhode pop up.' Hailey's major money move also comes shortly after she appeared on the cover of Vogue, getting candid in the accompanying interview about her life — both as a woman in the public eye and as a new mom to son Jack Blues, whom she welcomed with Justin in August. The 'Peaches' singer also shared a few thoughts with the publication, saying, 'I've done a lot of dumb things in my life, but the smartest thing I've ever done was marry Hailey.' Shortly afterward, he faced a bit of backlash for sharing on Instagram that he once told Hailey she'd 'never be on the cover of Vogue' during a 'huge fight' they had in the past. Justin has since removed the caption from his page, replacing it with a string of emojis, but he'd originally added, 'Yikes I know, so mean … For some reason because I felt so disrespected I thought I gotta get even.. I think as we mature we realize that we're not helping anything by getting even … So baby u already know but forgive me for saying u wouldn't get a vogue cover cuz clearly i was sadly mistaken.' Best of Billboard Chart Rewind: In 1989, New Kids on the Block Were 'Hangin' Tough' at No. 1 Janet Jackson's Biggest Billboard Hot 100 Hits H.E.R. & Chris Brown 'Come Through' to No. 1 on Adult R&B Airplay Chart 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 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
UPI
2 hours ago
- Business
- UPI
E.l.f Beauty to acquire Hailey Bieber's Rhode in $1 billion deal
1 of 3 | Hailey and Justin Bieber watch the 2023 U.S. Open Tennis Championships on September 1, 2023, in New York City. File Photo by John Angelillo/UPI | License Photo May 28 (UPI) -- E.l.f. Beauty announced Wednesday it will acquire Hailey Bieber's three-year-old beauty company Rhode for $1 billion. "This powerhouse alliance between E.l.f. Beauty and Rhode is built on both brands' shared focus on disruption and product innovation, setting the stage for transformative global expansion," E.l.f. Beauty said in a news release about the acquisition of the company known for its high-performance, skin-focused products. The 27-year-old model, who is married to pop singer Justin Bieber, in 2022 launched Rhode. The company has more than doubled its customer base over the past year and brought in $212 million in revenue in the 12 months ended March 31. Last year, Rhode became the No. 1 skincare brand in earned media value with 367% year-over-year growth. The acquisition comprises $600 million in cash and $200 million in stock, plus an additional potential $200 million payout based on Rhode's performance over the next three years. The cash consists of fully committed debt financing of $600 million. They plan to close the deal by the close of the company's second quarter of fiscal year 2026. E.l.f's brands include e.l.f. Cosmetics, E.l.f. Skin, Keys Soulcare, Naturium and Well People. "We can't wait to bring Rhode to more faces, places, and spaces," Bieber said in a news release. "From day one, my vision for Rhode has been to make essential skin care and hybrid makeup you can use every day. 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." She plans to step into an expanded role of Chief Creative Officer and Head of Innovation for the new company. "I look forward to leading the brand into this exciting new chapter of possibilities alongside my Co-Founders Michael D. Ratner and Lauren Ratner, who have helped bring my vision to life from the start," she said. E.l.f. Chairman and CEO Tarang Amin told CNBC: "I've been in the consumer space 34 years, and I've been blown away by seeing this brand over time." In a news release, Amin said: "E.l.f. Beauty found a like-minded disruptor in Rhode. Rhode further diversifies our portfolio with a fast-growing brand that makes the best of prestige accessible. We are excited by Rhode's ability to break beauty barriers, fully aligning with e.l.f. Beauty's vision to create a different kind of company. Rhode is a beautiful brand that we believe is ready for rocketship growth. E.l.f. shares declined about 4% in extended trading in the New York Stock Exchange. After the market closed at 4 p.m., the company also posted fourth-quarter financial data: $332.7 million revenue and 76 cents adjusted earnings per share over nine months. About 75% of its products come from China, which has been slapped with a 30% duty on exports to the U.S. Last week, the company announced plans to raise prices by $1 on Aug. 1 to offset higher costs from tariffs. Hailey Bieber is the daughter of actor Stephen Baldwin and her maternal grandfather is Brazilian musician Eumir Deodato. She married Justin Bieber in November 2018 and they have one child, who is 9 months old. Justin Bieber is 31.
