e.l.f. Beauty has signed an agreement to acquire Rhode, Hailey Bieber's skincare brand, for $1 billion on May 28, 2025. This acquisition aims to diversify e.l.f. Beauty's portfolio and expand its presence in the prestige beauty sector.
The deal includes $800 million in cash and stock, with a possible $200 million earnout based on Rhode's growth over three years. Rhode, launched in 2022, has quickly gained popularity, with $212 million in net sales in the year ending March 31, 2025. The brand plans to launch in Sephora stores across North America and the UK by the end of the year.
Hailey Bieber will remain as Rhode's Founder, Chief Creative Officer, and Head of Innovation. She will also serve as a Strategic Advisor to e.l.f. Beauty. This partnership aims to leverage Rhode's innovative marketing and community-building strengths for global expansion.