"e.l.f. Beauty found a like-minded disruptor in rhode. rhode further diversifies our portfolio with a fast-growing brand that makes the best of prestige accessible."
"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."
Hailey Bieber's skincare brand, rhode, has been acquired by e.l.f. Beauty for $1 billion, comprising $800 million in cash and stock plus a potential $200 million earnout based on future growth. This acquisition is seen as a strategic move to diversify e.l.f.'s portfolio and tap into the growing Gen Z market. Bieber, a prominent figure herself, aims to expand rhode globally while maintaining its commitment to supporting women's career barriers and healthcare access. Industry experts view this deal as a beneficial collaboration, strengthening both brands' positions in the beauty market.
Read at Quartz
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