Hailey Bieber has sold her Rhode Beauty to e.l.f Beauty for $1bn.
The cosmetics brand revealed the news in a May 28 press release. The 28-year-old model, who is married to singer Justin Bieber, received $800 million in cash and stock, alongside the CEO of Rhode, Nick Vlahos, and co-founders Lauren Ratner and Michael D. Ratner.
E! News has also reported that they were given an additional $200 million of potential earnings based on "future growth of the brand over a three-year timeframe," per the release.
Hailey Bieber, who gave the company her middle name, will continue to serve as Chief Creative Officer and Head of Innovation at Rhode, in addition to serving as a strategic advisor for e.l.f. Her net worth is $300 million, according to Celebrity Net Worth.
Hailey Bieber on why she chose to sell her brand
In an Instagram post on May 28, Hailey Bieber reflected on how far she has come with her skincare brand since she launched it in 2022, and why she chose to sell it to e.l.f. - short for eyes, lips, and face:
"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," she penned. "So, today I am so incredibly excited and proud to announce that we are partnering with e.l.f. Beauty as we step into this next chapter in the world of rhode."
Bieber also described the cosmetics brand as:
"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," adding that she's "excited and invigorated" as she navigates a new chapter.
BBC has reported that the deal is expected to close later this year:
"Thank you to the amazing rhode team who have helped me build over the years," she said. "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!"
Lauren Ratner also echoed the sentiments in a post that came out that same day:
"The last 5 years building @rhode has been one of the greatest experiences of my life. To our entire rhode community - thank you for your endless love and support for the brand. We see every video, comment and message and it means so much to us. We can’t wait for you to see what we have coming!"
e.l.f. Chairman and CEO Tarang Amin said in the press release, as reported by E! News:
"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."
Amin added:
"Rhode is a beautiful brand that we believe is ready for rocketship growth."
Entrepreneur has reported that the Bieber-owned brand reported $212 million in net sales in a year that ended on March 31, 2025. Plans to launch in Sephora across North America and the U.K. are already in motion, the press release has revealed. Rhode was also the dominating skincare brand in Earned Media Value last year, clocking in 367% year-over-year EMV growth, the release added.
Rhode is particularly known online for its pocket blush and "peptide lip treatments." Hailey Bieber is one of several celebrities who have launched their own beauty brands, including Rihanna, whose Fenty Beauty clocked in a worth of almost $3bn last year, according to Forbes.
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