In a landmark transaction within the beauty industry, Hailey Bieber’s skincare brand, Rhode, has been acquired by e.l.f. Beauty for up to $1 billion. The deal, announced on May 28, 2025, underscores Rhode’s rapid ascent in the skincare market, achieving $212 million in net sales for the fiscal year ending March 31, 2025, just three years after its launch in June 2022.
The acquisition comprises $600 million in cash and $200 million in newly issued e.l.f. Beauty stock at closing, with an additional potential earnout of $200 million contingent on Rhode’s performance over the next three years. This move aligns with e.l.f. Beauty’s strategy to diversify its portfolio with high-growth, digitally native brands that resonate with younger consumers.
Hailey Bieber will continue to play a pivotal role in Rhode’s evolution, serving as Chief Creative Officer and Head of Innovation, overseeing product development, creative direction, and marketing. She will also act as a strategic advisor to both Rhode and e.l.f. Beauty, ensuring the brand’s vision remains intact during its expansion.
Founded with a minimalist approach to skincare, Rhode quickly gained traction among Gen Z and millennial consumers, propelled by Bieber’s substantial social media presence and the brand’s emphasis on “glazed donut skin”—a dewy, luminous complexion trend. The brand’s curated product line, including the Peptide Glazing Fluid and Barrier Restore Cream, emphasizes simplicity and efficacy, aligning with the “skinimalism” movement.
Rhode’s direct-to-consumer model and viral marketing campaigns, such as the Lemontini Peptide Lip Tint launch featuring a custom gold belly chain accessory, have further solidified its status as a cultural phenomenon. These innovative strategies have not only driven sales but also cultivated a loyal community around the brand.
The acquisition of Rhode marks e.l.f. Beauty’s fourth brand addition since 2020, following the acquisitions of Well People, Keys Soulcare, and Naturium. Under CEO Tarang Amin, e.l.f. has focused on building a next-generation beauty group characterized by rapid innovation, direct consumer engagement, and cultural relevance. The company’s net sales increased by 28% to $1.3 billion in fiscal 2025, marking its 25th consecutive growth quarter.
“e.l.f. Beauty found a like-minded disruptor in Rhode,” Amin stated, highlighting the brand’s alignment with e.l.f.’s mission to make prestige beauty accessible and to break industry norms.
With plans to expand Rhode’s presence into Sephora stores across North America and the U.K. by the end of 2025, the brand is poised to transition from an online-exclusive model to a broader retail footprint. This move aims to enhance accessibility and cater to the growing demand for Rhode’s products.
Hailey Bieber expressed enthusiasm about the partnership, stating, “From day one, my vision for Rhode has been to make essential skincare and hybrid makeup you can use every day. This partnership with e.l.f. Beauty marks an incredible opportunity to elevate and accelerate our ability to reach more of our community with even more innovative products and widen our distribution globally.”
As Rhode embarks on this new chapter under e.l.f. Beauty’s umbrella, the brand’s commitment to innovation and community engagement remains central to its identity, promising continued growth and influence in the beauty industry.
