E.L.F. Beauty made headlines by acquiring Hailey Bieber's beauty brand Rhode for $800 million, with an additional $200 million contingent on growth. Despite just 10 products and launching less than three years ago, Rhode reported impressive sales of $212 million. Hailey Bieber's strong social media presence and celebrity connections played a crucial role in the brand's success and appeal. The move surprised many in the beauty industry, as other well-established brands were also up for sale but had not achieved similar success. Bieber will remain involved as chief creative officer and strategic adviser.
I have not seen another brand where there are communities waiting, or a pop-up event in L.A., willing to camp out overnight for 14 hours in line - not just for product, but to buy into the entire lifestyle.
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