"Most important thing to me is to keep bringing rhode to more spaces": Hailey Bieber announces rhode’s $1 billion acquisition by e.l.f. Beauty

Hailey Bieber's rhode has been acquired by e.l.f. Beauty in a $1 billion deal. Hailey, the founder of rhode Beauty, will also assume the role of Chief Creative Officer and Head of Innovation at rhode. Additionally, she will serve as a strategic advisor to e.l.f. Beauty.

On May 28, Hailey Bieber shared the news and her goal in starting rhode through an Instagram post that read,

"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. 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."

In three years, rhode has introduced a variety of makeup, skincare, and accessories. The peptide lip tint and lip case from rhode gained viral attention online, celebrated for their quality and design.

Tarang Amin, CEO of e.l.f. Beauty gives his statement after Hailey Bieber's rhode acquisition

Tarang Amin, the CEO of Eyes Lips Face, said in a release,

"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.”

As per the release, rhode's owners, including CEO Nick Vlahos, Bieber, and her co-founders Lauren Ratner and Michael D. Ratner, will receive $800 million in cash and shares at the time of the deal. The deal also includes an extra $200 million if the brand does well over the next three years.

Lauren Ratner, the co-founder of rhode, posted on social media,

"The last 5 years building @rhode has been one of the greatest experiences of my life. I have poured everything I have into this company. For years, I have obsessed about every detail of the brand and how the world of rhode comes to life in every word, image, experience and package."

Ratner continued by thanking Hailey Bieber for the opportunity,

"@haileybieber thank you for bringing me on as a co-founder and being an incredible partner. Your vision for rhode and creative genius has changed the beauty industry. You are a force!"

She also thanked Amin for the opportunity and showed appreciation to Michael D. Ratner.

Hailey Bieber's post is getting love and support from her fans and the rhode community. Big names like Paris Hilton and Gigi Hadid also congratulated her in the comments for this new chapter.

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