Hailey Bieber’s Rhode Sells for $1 Billion—And She’s Still Running the Show
Beauty mogul status: unlocked. Hailey Bieber just secured the bag in a big way—like a billion-dollar kind of way. On Wednesday, e.l.f. Beauty announced it’s buying Hailey’s buzzy skincare brand Rhode in a deal valued at up to $1 billion, making it the biggest acquisition in the company’s history.
The deal includes $800 million in cash and stock up front, with the potential for an extra $200 million based on Rhode’s performance over the next three years. Translation: this glow-up is still glowing.
Hailey isn’t just cashing out and walking away, either. She’ll stay in the mix as chief creative officer and head of innovation, continuing to lead the brand’s product development and aesthetic—two things Rhode fans obsess over.
“From day one, my vision for Rhode has been to make essential skincare and hybrid makeup you can use every day,” Hailey said in a statement. “Just three years into this journey, our partnership with e.l.f. Beauty marks an incredible opportunity to elevate and accelerate our ability to reach more of our community.”
Launched in 2022 with co-founders Michael and Lauren Ratner, Rhode went from startup to skincare powerhouse in just under three years. With only 10 products, the brand pulled in $212 million in net sales over the past year alone—without even being in Sephora (yet).
Rhode’s fanbase? Dedicated. The packaging? Minimalist perfection. The vibe? Dewy, clean, Gen Z chic. From the Peptide Lip Treatment to the Glazing Milk, every drop of product has gone viral at least once—and that’s not an exaggeration.
According to e.l.f. CEO Tarang Amin, Rhode’s growth was impossible to ignore.
“I’ve been in the consumer space 34 years, and I’ve been blown away by seeing this brand over time,” he told CNBC. “In less than three years, they’ve gone from zero to $212 million in net sales, direct-to-consumer only, with only 10 products. I didn’t think that was possible.”
The acquisition marks a strategic move for e.l.f., which has long dominated the affordable cosmetics space. But now they’re making a serious play in skincare—and doing it with one of the most recognizable beauty names on the planet.
It also comes as e.l.f. looks to expand its footprint globally. Rhode, which has been sold mainly through its own website, plans to launch in Sephora stores across North America and the U.K. later this year. Expect to see those sleek silver tubes and hydrating heroes popping up IRL soon.
But not everything about the deal was perfect for investors. e.l.f.’s stock dipped about 4% in after-hours trading following the announcement, even though the company beat Wall Street’s quarterly expectations. Analysts say uncertainty around new trade tariffs (most of e.l.f.’s products are made in China) caused the hesitation.
Still, the brand’s leadership is betting big that Rhode is worth it.
Hailey’s personal influence is no small part of that valuation. With 52+ million Instagram followers and a constant presence in fashion and beauty headlines, she’s turned her clean girl aesthetic into a lifestyle brand people want in their bathroom cabinets.
Bottom line? Hailey Bieber is now officially a billion-dollar beauty boss, and Rhode is poised to become a global skincare giant. The girl who gave us “glazed donut skin” just served us a billion-dollar business lesson: keep it cute andkeep it strategic.