Hailey Bieber has officially sold her Rhode cosmetics brand to e.l.f. Beauty for $1 billion. Of that, $800 million in cash and stock will go to Rhode’s owners, including CEO Nick Vlahos, Bieber and his co-founders Lauren Ratner and Michael D. Ratner. Also included in the deal is the payment of $200 million in potential revenue based on the brand’s future growth over a three-year period.
Following the announcement, Haley, who will remain chief creative officer and head of innovation at Rhode and will also serve as a strategic advisor to e.l.f., spoke about what she has accomplished with her skincare brand since its launch in 2022 and why teaming up with e. seemed like a good fit.
“I’ve always had big dreams for the company, and the most important thing for me is to continue to bring rhode to more spaces, places and people around the world. So, today I am incredibly excited and proud to announce that we are partnering with e.l.f. Beauty as we embark on a new chapter in the world of rhode,” shared Hailey Bieber.