Justin Bieber's candid response following Hailey's $1 Billion business deal announcement
Hailey Bieber's Skincare Brand, Rhode, Acquired by Elf Cosmetics for $1 Billion
Hailey Bieber, the supermodel and wife of singer Justin Bieber, has announced a major milestone in her career with the acquisition of her skincare brand, Rhode, by Elf Beauty. The deal, worth $1 billion, sees Rhode becoming part of Elf Beauty's diverse portfolio.
The acquisition, effective from Wednesday, includes $800 million payable in a mixture of cash and stock, with an additional potential earnout of $200 million contingent on the brand's future growth over the next three years.
Hailey will continue as Founder of Rhode, taking on an expanded role as Chief Creative Officer and Head of Innovation. She expressed her excitement about the partnership, stating in an Instagram post that she found a like-minded company that shares her vision for innovative, accessible beauty solutions.
Rhode aims to offer essential skincare and hybrid makeup products. The brand's alignment with Elf Beauty's vision suggests a commitment to growing the brand globally, with existing partnerships such as Sephora retail in North America and the U.K. expected to extend to the end of fall 2025.
Justin Bieber, the Baby hitmaker, has not made a public statement regarding the acquisition. However, sources have shared that he is "beyond proud" of his wife and "so happy" for her, having seen her hard work from the beginning. He has also praised her dedication to building Rhode.
Hailey celebrated the news with a solo night out, marking the occasion by sharing the big news on her Instagram, where she expressed her pride and excitement about the next chapter for Rhode.
Rhode, Hailey Bieber's skincare brand, is now part of Elf Beauty's business ventures following a $1 billion deal. Elf Beauty's diverse portfolio has expanded with the acquisition of Rhode, which offers essential skincare and hybrid makeup products. Hailey, as the Founder of Rhode, will take on an expanded role as Chief Creative Officer and Head of Innovation, excited about the partnership and its potential impact on the entertainment and celebrity-centric world.
