e.l.f. Beauty Acquires Hailey Bieber’s Rhode in $1 Billion Deal

Hailey Bieber’s skincare brand Rhode has been acquired by e.l.f. Beauty in a landmark $1 billion deal, marking a pivotal move into the prestige beauty sector for the mass-market powerhouse. The agreement includes $800 million in cash and stock payable at closing, and a potential earnout of $200 million based on Rhode’s growth over the next three years.

e.l.f. Chairman and CEO Tarang Amin described Rhode as a “like-minded disruptor,” lauding its innovative, skin-focused products and cult following. Founded in 2022, Rhode has seen rapid growth, generating $212 million in net sales in the last fiscal year and becoming the No. 1 skincare brand in Earned Media Value in 2024.

Rhode’s viral success stems from its minimalist yet high-performance product line and clever marketing strategies. The brand will continue to operate from its Los Angeles base under its current leadership, including Bieber, who will serve as Chief Creative Officer and Head of Innovation, as well as a Strategic Advisor to e.l.f.

The acquisition includes plans to expand Rhode’s reach through its first major retail partnership with Sephora, aiming for launches across North America and the U.K. this year.

This move aligns with e.l.f. Beauty’s long-term strategy to diversify its portfolio and scale its presence in skincare. With a strong emphasis on accessibility, innovation, and ethical standards, this partnership sets the stage for Rhode’s “rocketship growth,” according to Amin.

The deal is expected to close in the second quarter of fiscal 2026, pending regulatory approvals.