Hailey Bieber is taking Rhode global. The 28-year-old has officially sold her skincare brand, Rhode, to e.l.f. Beauty for $1 billion, as confirmed in a press release from May 28.
The deal includes $800 million in cash and stock given to Rhode’s owners—which include Hailey, CEO Nick Vlahos, and cofounders Lauren Ratner and Michael D. Ratner—at the time of the sale. There’s also the potential for an additional $200 million based on the brand’s performance over the next three years, according to the release.
Hailey will continue in her role as Chief Creative Officer and Head of Innovation for Rhode and will also act as a strategic advisor to e.l.f. Beauty. Reflecting on the journey since launching Rhode in 2022, she shared why the partnership with e.l.f. felt like the right move.
“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 a May 28 Instagram post.
Calling e.l.f. a “like-minded disruptor” that shares her passion for “big ideas and innovation”, Hailey expressed her excitement about this next phase.
“Thank you to the amazing rhode team who have helped me build over the years,” she added. “I couldn’t have done it without all of you. 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!”
Cofounder Lauren Ratner echoed Hailey’s thoughts in her own Instagram post, writing that building @rhode over the last five years has been “one of the greatest experiences of my life.”
“To our entire rhode community – thank you for your endless love and support for the brand,” she continued. “We see every video, comment and message and it means so much to us. We can’t wait for you to see what we have coming!”
From e.l.f.’s side, they shared their excitement about the potential of this collaboration.
“We are excited by rhode’s ability to break beauty barriers, fully aligning with e.l.f. Beauty’s vision to create a different kind of company,” said e.l.f. Chairman and CEO Tarang Amin. “Rhode is a beautiful brand that we believe is ready for rocketship growth.”
