e.l.f. Beauty Acquires Hailey Bieber’s Rhode in a $1 Billion Deal

e.l.f. Beauty has announced it will acquire Rhode, the skincare brand founded by Hailey Bieber, in a deal reportedly valued at $1 billion. The move positions e.l.f. to extend its influence into the prestige skincare space, while Rhode gains the infrastructure to expand globally at scale.

Launched in 2022, Rhode has carved out a loyal customer base with its tight edit of minimalist products, including the cult Peptide Lip Treatment and Barrier Restore Cream. In just two years, the brand has brought in $212 million in net sales, catching the eye of investors and retailers alike.

The deal includes $800 million upfront, split between $600 million in cash and $200 million in stock, with another $200 million tied to performance targets over the next three years. Bieber will stay closely involved as Chief Creative Officer and Head of Innovation, while also advising e.l.f. on brand strategy.

Beyond market reach, the acquisition also offers e.l.f. greater supply chain flexibility. While e.l.f. has long relied on manufacturing in China, Rhode works with partners in the US, Europe and Southeast Asia, giving the company access to new production routes.

Rhode is expected to roll out into Sephora locations across the UK and North America later this year. For e.l.f., it’s a chance to prove its strength in clean, high-performance skincare. For Rhode, it's a launchpad into full-blown global cult status.