US EditionHailey Bieber's makeup brand sold to e.l.f. in $1bn deal
- E.l.f. Beauty announced a $1 billion deal to acquire Hailey Bieber's skincare brand Rhode, expected to close later in 2025.
- The acquisition follows Rhode's rapid growth since its 2022 launch, fueled by Bieber's influence and a direct-to-consumer model.
- The agreement involves a combination of $800 million paid through cash and shares, along with an additional possible $200 million contingent on Rhode's performance across the next three years.
- Rhode achieved $212 million in net sales through March 2025 with only 10 products, while Bieber will remain chief creative officer.
- This acquisition expands E.l.f.'s presence in luxury skincare and broadens its consumer base, signaling a strategic shift toward prestige beauty.
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E.l.f. Beauty (NYSE: ELF) stock has been through the wringer over the past few years, and it's down a whopping 40% over the past year. That's despite robust growth over that time, and a brand that continues to surge and gain market share. The market has been worried about rising prices and slowing growth, but smart investors can see that e.l.f. has a long, strong future. In tune with that, the company just acquired Rhode, the cosmetics line deve…
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As a model and wife of singer Justin Bieber, Hailey Bieber was not taken seriously for a long time. She has just changed this with a billion deal.
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