Latest news with #Sephora
The Age
41 minutes 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
42 minutes 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.
Miami Herald
4 hours ago
- Business
- Miami Herald
E.l.f. Beauty drops $1 billion on Hailey Bieber's Rhode
I'll admit it - until a few months ago, I had no idea what Rhode was. The packaging was everywhere, and the words "glazing milk" started appearing in my TikTok feed like it was a new food group. But as a millennial who came of age in the YouTube beauty guru era, I already had my ride-or-die products. Rhode felt like it was speaking a whole different language. What I did know - even if I haven't touched it in years - was E.l.f. Beauty. Related: Sephora unveils new brand partnership Gen Z will love The brand was practically a rite of passage: budget-friendly, available at every drugstore, and always good enough to justify one more impulse buy. Now, that throwback favorite is making waves again - not because of a viral mascara or genius dupe, but because it's dropping serious money on the new kid in skincare. In a billion-dollar move that bridges two generations of beauty fans, E.l.f. just bought Hailey Bieber's Rhode. Image source: e.l.f. Beauty/Rhode While most legacy brands are tightening their belts, E.l.f. (ELF) is doing the opposite. According to the latest press release, the company signed a definitive agreement to acquire Rhode in a deal valued at up to $1 billion. That kind of number sends a message: this isn't just a buzzy celeb brand, it's a strategic power play. Rhode, launched by Bieber in 2022, has built a wildly loyal following from just 10 products. The brand pulled in $212 million in net sales in the 12 months ending March 2025. Its direct-to-consumer model and high-performing, minimalist products have helped it stand out in a saturated space. Soon, Rhode will also hit Sephora shelves across North America and the UK - a major leap into physical retail that puts it on track for global expansion. Related: Drunk Elephant beauty brand suffers sales drop amid big shakeup That kind of retail reach is new territory for E.l.f., which has historically thrived in mass-market channels like Target and Walmart. Rhode gives E.l.f. something it hasn't had before: a foothold in the prestige channel and access to Gen Z wallets that are increasingly hard to win. Despite its budget beginnings, E.l.f. is no underdog. The company has grown for 25 straight quarters and continues to outpace rivals. With Rhode following its Naturium buy, E.l.f. is building not just a portfolio, but a modern beauty empire. Celebrity beauty brands are everywhere. But not all of them last. The initial hype that comes with a famous name can fade quickly. We've already seen several big-name launches struggle to stick. Rhode is different. Its identity feels both aspirational and personal. Bieber didn't just co-sign a product - she built the brand from her own routines and skin-first philosophy. That's what E.l.f. is banking on. In a time when most major beauty players are being cautious, it's choosing to go all in. CEO Tarang Amin called Rhode "a beautiful brand that we believe is ready for rocketship growth." Bieber will stay on as founder, chief creative officer, and head of innovation. She'll shape product, creative, and marketing while advising across the company. Her team will continue to run the business from LA, keeping the startup spirit alive. All of this comes as E.l.f. announced it is raising prices by $1, a move the brand directly linked to inflation and tariffs in an Instagram post. It's a small hike, but one that makes this billion-dollar bet on Rhode feel even bolder. Bottom line: E.l.f. isn't just buying a brand. It's investing in a movement. And in doing so, it just might redefine what a beauty giant looks like. Related: Paris Hilton lags behind Rihanna, Kylie with latest announcement The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
CNN
5 hours ago
- Business
- CNN
Hailey Bieber's beauty brand rhode just sold to e.l.f. for $1 billon
Hailey Bieber's beauty brand rhode sold to budget makeup powerhouse e.l.f. Beauty for $1 billion on Wednesday. It's e.l.f.'s largest acquisition to date, eclipsing its $355 million purchase of skin care brand Naturium in 2023. Founded in 2022, Bieber's brand racked up $212 million in net sales in its last fiscal year, which ended in March. And earlier this year, rhode announced that its products will be seen in-stores at Sephoras in North America and the United Kingdom. Bieber will serve as rhode's chief creative officer and head of innovation, the company said. She's the company's founder and current creative director. With a strong social media presence, in addition to Bieber's own digital footprint both before and after her marriage to singer Justin Bieber, rhode 'has a powerful engagement model,' e.l.f. said in its earnings call just after the announcement Wednesday. Fans will often wait hours in line for rhode pop-ups, and its products are frequently sold out on its website. 'One of the things we really like about rhode is just how tight the product assortment is. It's only 10 products across skincare, color cosmetics and accessories,' CEO Tarang Amin said in the same earnings call. E.l.f., meanwhile, dominates the skincare and makeup market for young consumers and is teens' top cosmetic brand, according to a survey from investment firm Piper Sandler. The company said it could help rhode expand into retail and increase its global footprint. The massive acquisition comes as e.l.f. is at a crossroads with President Donald Trump's chaotic tariff war with China. As of mid-May, about 75% of its global production came from China and is now subject to tariffs of 55%, including the tariffs put in place in 2019, the company said in its Wednesday earnings. In response to the tariffs, e.l.f. is increasing prices by $1 across its entire portfolio on August 1. The majority of its products are priced under $10. E.l.f. also did not issue guidance for this fiscal year because of uncertainty around tariffs. But it is still sticking by its production model. 'We believe our unique China-based supply chain is an area of competitive advantage we've been honing for the past 21 years… (We) are committed to our China team and suppliers,' the company said in its Wednesday earnings call. The rhode deal consists of $800 million in cash and stock, and potentially another $200 million based on how rhode performs over the next three years. It's expected to close later this year.
CNN
5 hours ago
- Business
- CNN
Hailey Bieber's beauty brand rhode just sold to e.l.f. for $1 billon
Hailey Bieber's beauty brand rhode sold to budget makeup powerhouse e.l.f. Beauty for $1 billion on Wednesday. It's e.l.f.'s largest acquisition to date, eclipsing its $355 million purchase of skin care brand Naturium in 2023. Founded in 2022, Bieber's brand racked up $212 million in net sales in its last fiscal year, which ended in March. And earlier this year, rhode announced that its products will be seen in-stores at Sephoras in North America and the United Kingdom. Bieber will serve as rhode's chief creative officer and head of innovation, the company said. She's the company's founder and current creative director. With a strong social media presence, in addition to Bieber's own digital footprint both before and after her marriage to singer Justin Bieber, rhode 'has a powerful engagement model,' e.l.f. said in its earnings call just after the announcement Wednesday. Fans will often wait hours in line for rhode pop-ups, and its products are frequently sold out on its website. 'One of the things we really like about rhode is just how tight the product assortment is. It's only 10 products across skincare, color cosmetics and accessories,' CEO Tarang Amin said in the same earnings call. E.l.f., meanwhile, dominates the skincare and makeup market for young consumers and is teens' top cosmetic brand, according to a survey from investment firm Piper Sandler. The company said it could help rhode expand into retail and increase its global footprint. The massive acquisition comes as e.l.f. is at a crossroads with President Donald Trump's chaotic tariff war with China. As of mid-May, about 75% of its global production came from China and is now subject to tariffs of 55%, including the tariffs put in place in 2019, the company said in its Wednesday earnings. In response to the tariffs, e.l.f. is increasing prices by $1 across its entire portfolio on August 1. The majority of its products are priced under $10. E.l.f. also did not issue guidance for this fiscal year because of uncertainty around tariffs. But it is still sticking by its production model. 'We believe our unique China-based supply chain is an area of competitive advantage we've been honing for the past 21 years… (We) are committed to our China team and suppliers,' the company said in its Wednesday earnings call. The rhode deal consists of $800 million in cash and stock, and potentially another $200 million based on how rhode performs over the next three years. It's expected to close later this year.
