E.l.f. Beauty Acquires Hailey Bieber's Rhode for Up to $1 Billion

Published 1 days agoELF

E.l.f. Beauty Acquires Hailey Bieber's Rhode for Up to $1 Billion

E.l.f. Beauty is making waves with its latest acquisition of Hailey Bieber's skincare line, Rhode, in a deal that could reach up to $1 billion. The agreement includes $600 million in cash, $200 million in newly issued E.l.f. common stock, and a potential earnout of $200 million, dependent on Rhode's performance over the next three years, according to the Associated Press.

Rhode has demonstrated significant market potential with $212 million in net sales reported for the fiscal year ending March 31, 2025. The brand currently operates primarily through online sales but is planning a significant retail expansion. By the end of the year, Rhode is set to enter the physical retail space with a partnership with Sephora in North America and the U.K., as reported by Reuters.

Keeping its creative force intact, Hailey Bieber will continue to play a vital role as Chief Creative Officer and Head of Innovation at Rhode, focusing on creative direction, product development, and marketing. She will also lend her insight as a strategic advisor to both E.l.f. and Rhode. Investor reactions were positive, with E.l.f.'s stock climbing 12% in premarket trading following the acquisition news.

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