Cosmetics brand e.l.f. is acquiring Hailey Bieber's skincare line Rhode for $1 billion, aiming to enhance its portfolio and distribution. Established in 2022, Rhode features essential skincare and hybrid makeup products developed with beauty experts. Bieber expressed excitement about the partnership, highlighting plans to broaden their reach and innovate. e.l.f. Chairman Tarang Amin indicated Rhode's potential for significant growth, with expectations of launching products in major retailers like Sephora soon. Additionally, Bieber will take on a more prominent role at Rhode as Chief Creative Officer and Head of Innovation.
"We can't wait to bring Rhode to more faces, places, and spaces. From day one, my vision for Rhode has been to make essential skin care and hybrid makeup you can use every day," Bieber, 28, said in a statement.
"E.l.f. Beauty found a like-minded disruptor in Rhode. Rhode further diversifies our portfolio with a fast-growing brand that makes the best of prestige accessible," said e.l.f. Chairman and CEO Tarang Amin.
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