Bieber introduced the highly-anticipated brand in June 2022, initially offering three products – Peptide Glazing Fluid, Barrier Restore Cream, and Peptide Lip Treatment.
Since then, the brand has significantly expanded, branching out into tinted lip products, blush, and even popular phone cases designed to hold your lip gloss.
‘e.l.f. Beauty found a like-minded disruptor in rhode,” said e.l.f. Chairman and CEO Tarang Amin Wednesday, per Business Wire.
‘rhode further diversifies our portfolio with a fast-growing brand that makes the best of prestige accessible,’ his statement continued.
‘We are thrilled by rhode’s capacity to push beauty boundaries, perfectly aligning with e.l.f. Beauty’s mission to foster a unique company. rhode is a stunning brand that we believe is poised for rapid growth.’
e.l.f. cosmetics is currently sold at a variety of stores, like Ulta and Walmart.
They offer all different kinds of makeup products at relatively low price points, with mega stars like Jennifer Coolidge working as a spokesperson over the past year.
E.l.f. Cosmetics has acquired Hailey Bieber ‘s skincare and beauty line, Rhode, in a new deal that is worth $1 billion, the companies announced Wednesday
In the post, Bieber also thanked her dedicated team at rhode and acknowledged that she ‘couldn’t have done it’ without their help
Bieber will still serve as founder of the brand and Chief Creative Officer and Head of Innovation, according to Business Wire.
Following the news, Bieber took to Instagram to break her silence on the monumental deal.
‘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,’ she wrote in the caption, which was accompanied by two pictures of her.
‘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. I found a 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 and will help us continue to grow the brand,’ her message continued.
‘I feel invigorated, excited and more ready than ever to step into an even bigger role as Chief Creative Officer, and Head of Innovation of rhode as well as strategic advisor to e.l.f. Beauty.’
In the post, Bieber also thanked her dedicated team at rhode and acknowledged that she ‘couldn’t have done it’ without their help.
Of course, she also thanked consumers.
‘As I’ve said, this is only the beginning,’ Bieber signed off.
Following the news, Bieber took to Instagram to break her silence on the monumental deal
Over the past 12 months, rhode has generated $212 in net sales, according to Fortune.
News of the deal comes just one month after the star hired both J.P. Morgan and global investment bank Moelis to assist her in finding potential deal options at $1 billion in value, sources told WWD.
However, some sources doubted that a deal would go through, comparing it to other solo celeb-faced beauty brands like Makeup by Mario and Selena Gomez’s Rare Beauty.
This Fall, Rhode will also be carried in beauty giant Sephora.
It will be coming to all locations in the US, Canada and the UK.
