Partner secures billion-dollar agreement for Hailey Bieber's cosmetics line - Hailey Bieber secures a mega-deal worth a billion dollars due to the success of her cosmetics line.
Hailey Bieber's Skincare Brand, Rhode, Sells for a Record-Breaking $1 Billion
Hollywood model Hailey Bieber has forged a path beyond the silver screen, securing a monumental business deal with her skincare brand Rhode. The youthful brand, established just last year, has been acquired by e.l.f. Beauty for an astonishing $1 billion.
The deal, revealed by The Hollywood Reporter on Wednesday, provides Bieber, wife of pop star Justin Bieber, with a significant leap into the corporate world. Rhode posted impressive sales of $212 million in 2022, showcasing an extraordinary accomplishment for such a young brand.
Bieber expressed her excitement in a statement, expressing enthusiasm for expanding Rhode's reach. "We're eager to bring Rhode to even more faces, places, and spaces," she said.
The brand's success story stems from Bieber's ambition to create "essential skincare and hybrid makeup for everyday use." In collaboration with co-founders Michael D. Ratner and Lauren Ratner, she built a brand synonymous with minimalist aesthetics and an emphasis on natural beauty.
e.l.f. Beauty views the acquisition as a strategic maneuver, with CEO Nick Vlahos highlighting that Bieber's "rapidly expanding beauty brand" aligns admirably with their already thriving portfolio, which boasts e.l.f. Cosmetics, e.l.f. SKIN, Keys Soulcare, and other successful lines. The products from Rhode are slated to debut at Sephora later this year.
Despite the sale, Bieber will continue her role with the company, serving as Chief Creative Officer and Head of Innovation. She expressed her enthusiasm for her expanded duties, stating, "This partnership with e.l.f. Beauty presents an incredible opportunity to expand our mission."
On Instagram, Bieber shared her feelings, declaring herself empowered and inspired for her elevated position within the company. Justin Bieber also showed his support for his wife's venture, posting her business-focused photo on his own account.
The purchase of Rhode by e.l.f. Beauty echoes a larger trend: celebrities increasingly using their influence for lucrative ventures. Platforms such as Instagram and TikTok offer celebrities direct access to fans and prime marketing opportunities, with examples like Kim Kardashian's Shapewear brand Skims, now valued at $4 billion.
With this acquisition, Rhode will join the ranks of the most valuable celebrity-owned companies. The sale is expected to finalize in the early fiscal year 2026. For Hailey Bieber, the transaction marks the pinnacle of an impressive career-transition, transforming her from model to billionaire.
(Enrichment Data: Rhode, founded in 2022, offers skincare products, facial cleansers, lotions, lip balms, and blushes. The brand primarily relied on Hailey Bieber's personal financing, complemented by strategic partnership with One Luxury Group. The brand's rapid growth attracted e.l.f. Beauty, leading to the multibillion-dollar acquisition. The deal signals a growing trend among celebrities using their fame to establish successful beauty ventures.)
- Hailey Bieber, seeing the opportunity, will continue to lead Rhode as Chief Creative Officer and Head of Innovation, aiming to expand the brand's reach beyond fashion-and-beauty to encompass lifestyle, finance, and even entertainment on social-media.
- The acquisition of Rhode by e.l.f. Beauty not only signifies an impressive entrant into the business world for Hailey Bieber, but also exemplifies a shift in how celebrities leverage their influence, using platforms like social-media for finance-driven ventures, similar to Kim Kardashian's Skims brand.
- This record-breaking $1 billion sale of Rhode not only propels Bieber into the corporate realm, but also positions her, and potentially other celebrities, as key players in the finance sector, redefining the landscape of celebrity-owned companies.
