E.l.f. Beauty Soars After Acquiring Hailey Bieber's Skincare Brand for $1 Billion

Published 19 hours agoELF

E.l.f. Beauty's stock shot up by nearly 25% following the announcement of its acquisition of Hailey Bieber's skincare brand, Rhode, in a $1 billion deal. This significant purchase comprises $600 million in cash, $200 million in newly issued E.l.f. stock, and an additional $200 million contingent upon Rhode's performance over the next three years, according to reports from AP News.

Rhode has been performing robustly, reporting $212 million in net sales for the 12 months ending March 31, 2025. As part of the acquisition, Hailey Bieber will retain her role as Chief Creative Officer at Rhode. She will oversee innovation and act as a strategic advisor for both companies. The brand is also planning an expansion into Sephora stores across North America and the U.K. by the year's end.

This acquisition is E.l.f. Beauty's largest to date, strategically positioning the company in the prestige beauty market amid softer demand in the mass market due to inflation pressures. Reuters highlighted this move as a significant strategic shift for E.l.f. Beauty, emphasizing its aim to capture a growing segment of the beauty market.

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