Hailey Bieber sold the Rhode brand for a billion dollars

Cosmetic brand e.l.f. (eyes, lips, face) is buying Hailey Bieber's Rhode skincare brand, which the model and entrepreneur launched in 2022, for $1 billion, UNN reports, citing Entrepreneur.

Details

"We look forward to introducing Rhode to more people, places and spaces. From day one, my vision for Rhode has been to make essential skincare and hybrid cosmetics that can be used every day," Bieber, 28, said in a statement.

"Overall, three years into this journey, our partnership with e.l.f. Beauty marks an incredible opportunity to enhance and accelerate our ability to reach more of our community with even more innovative products and expand our distribution worldwide," she said.

Rhode sells a range of skincare products (toner, moisturizer, peptide lip gloss) with the aim of making "everything really good." She has teamed up with BeautyStat entrepreneur and chemist Ron Robinson and dermatologist Dr. Dhaval Bhanusali to help with the formulas.

"E.l.f. Beauty has found a like-minded disruptor in Rhode," said e.l.f. Chairman and CEO Tarang Amin in a statement. 

"Rhode is a great brand that we believe is poised for rapid growth," Amin added.

Bieber said she is taking on an "expanded role as chief creative officer and head of innovation."

Rhode was the No. 1 skincare brand by earned media value in 2024, representing 367% year-over-year EMV growth, according to a press release.

E.l.f. Cosmetics was founded in 2004 (originally everything cost just $1) and has reported 23 consecutive quarters of growth.

According to a press release, the sale was approved by the board of directors of e.l.f. Beauty.

Addition

Rhode reported net sales of $212 million for the 12 months ended March 31, 2025, and plans to launch in Sephora across North America and the UK by the end of the year, according to a statement.