Hailey Bieber launched Rhode in 2022
Model and businesswoman Hailey Bieber is selling her beauty brand, Rhode, to e.l.f for an estimated $1bn.
The brand has seen immense success since Rhode was launched in 2022, with customers raving about the skincare collection, as well as the lip tint and viral pocket blush.
Hailey Bieber has confirmed she will stay on as chief creative officer following the deal with e.l.f.
She confirmed the news on Instagram and teased that this is just the beginning for Rhode.
“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. 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.
“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.”
Hailey praised the Rhode team for helping her build the brand over the years.
“And to our rhode community, thank you for being the most supportive and for being on this journey, this next chapter is going to be even more incredible together! As I’ve said, this is only the beginning.”
e.lf. has reportedly paid $800m in cash and stock for the company. A further $200m payout is also possible but will depend on Rhode sales.
