E.L.F. Beauty Purchases Hailey Bieber’s Rhode Skin Care for $1 Billion

E.L.F. Beauty, renowned for its affordable and popular products, has acquired Hailey Bieber’s Rhode skin-care brand for $1 billion. The deal involves $800 million in cash and stock with an additional $200 million potential earnout based on Rhode’s growth over three years. Expected to close in the fiscal second quarter of 2026, this acquisition follows E.L.F.’s robust fiscal performance, reporting $28.3 million in fourth-quarter earnings and $332.6 million in revenue.

Hailey Bieber launched Rhode in 2022, leveraging her celebrity status for promotion. She will assume an expanded role as chief creative officer at Rhode and become a strategic adviser for E.L.F. Beauty.

Celebrity beauty brands have seen significant growth, outpacing the overall beauty sector. A NielsenIQ analysis highlighted that sales of these brands surpassed $1 billion in 2023, marking a 57.8% growth compared to the total beauty category’s 11.1% increase.