E.l.f. Beauty has announced a $1 billion acquisition of Rhode, Hailey Bieber’s skincare brand, signaling a major move into the luxury skincare market.
The deal includes $800 million in cash and stock with a potential $200 million bonus if Rhode meets future performance goals.
In just under three years, Rhode reached $212 million in direct-to-consumer sales, offering only 10 core products.
E.l.f. aims to expand its skincare segment and attract higher-income consumers through Rhode’s prestige appeal.
Hailey will remain Rhode’s Chief Creative Officer, continuing to lead innovation and marketing strategy.
Analysts say the deal is a smart expansion into prestige skincare and will help diversify E.l.f.’s consumer base.
Though currently DTC, Rhode plans to hit shelves at Sephora in North America and the U.K. later this year.
Rhode thrives on digital buzz, becoming the No.1 skincare brand in earned media value in 2024 with 367% growth.
Following its $355M Naturium deal in 2023, E.l.f.’s Rhode buy reinforces its deep commitment to skincare innovation.
Rhode thrives on digital buzz, becoming the No.1 skincare brand in earned media value in 2024 with 367% growth.