Hailey Bieber Sells Rhode to e.l.f. Beauty in a $1 Billion Agreement

Rhode, the lifestyle brand founded by Hailey Bieber in 2022, is being acquired by e.l.f. Beauty in a significant $1 billion deal. e.l.f. announced the acquisition, which will enhance its portfolio that includes brands like e.l.f. Cosmetics and Keys Soulcare. Rhode achieved sales of $212 million as of March 31, 2025, and its products are set to launch in Sephora later this year.

The acquisition includes a $600 million cash payment, $200 million in e.l.f. stock for Rhode’s equity holders, and a $200 million earnout over three years based on performance goals. Hailey Bieber will remain with the company as chief creative officer and head of innovation, alongside CEO Nick Vlahos.

The deal reflects the growing trend of celebrity-backed brands succeeding in beauty and fashion, with Rhode being compared to other major deals like Ryan Reynolds’ Mint Mobile sale to T-Mobile for $1.3 billion. The transaction is expected to close in early fiscal 2026, with e.l.f. having to pay a $65 million termination fee if the deal falls through.