Hailey Bieber closes $1B rhode deal with e.l.f. Beauty: 'This is only the beginning'
Hailey Bieber is cementing her status as a beauty mogul.
Bieber, who founded the beauty brand, rhode, announced Wednesday on Instagram that the brand will enter a new chapter as it partners with e.l.f. Beauty.
A press release announced that e.l.f. Beauty acquired rhode in a $1 billion deal, in which Bieber will serve as rhode's Chief Creative Officer and Head of Innovation. As the Head of Innovation, she will oversee "creative, product innovation and marketing," according to a press release. She'll also be a strategic advisor to e.l.f. Beauty.
"When I launched @rhode in 2022, I always had big dreams for the company, and the most important thing to me is to keep bringing rhode to more spaces, places, and faces globally," Bieber said in an Instagram post. "So today I am so incredibly excited and proud to announce that we are partnering with e.l.f. Beauty as we step into this next chapter in the world of rhode."
She continued, "I found a like-minded disruptor with a vision to be a different kind of company that believes in big ideas and innovation in the same way that I do and will help us continue to grow the brand."
Bieber went on to say that the move makes her feel "invigorated, excited and more ready than ever to step into an even bigger role as Chief Creative Officer, and Head of Innovation of rhode as well as strategic advisor to e.l.f. Beauty."
Bieber's beauty line aims "to glaze your skin with goodness," according to a press release. It features skincare products, including the famous glazing milk, and makeup items, including the pocket blush and peptide lip tint.
E.l.f.'s acquisition of the brand is being described as a "powerhouse alliance" and focuses on "disruption and product innovation, setting the stage for transformative global expansion," according to a press release.
"e.l.f. Beauty found a like-minded disruptor in rhode," said e.l.f. Chairman and CEO Tarang Amin. "rhode further diversifies our portfolio with a fast-growing brand that makes the best of prestige accessible. We are excited by rhode's ability to break beauty barriers, fully aligning with e.l.f. Beauty's vision to create a different kind of company. rhode is a beautiful brand that we believe is ready for rocketship growth."
Bieber ended her Instagram post by thanking her rhode team and community.
She wrote, "thank you for being the most supportive and for being on this journey, this next chapter is going to be even more incredible together! As I've said, this is only the beginning."
