American model and media personality Hailey Bieber has sold her popular makeup brand, Rhode, to E.l.f Beauty in a blockbuster deal valued at $1 billion. The announcement was made by Hailey via her Instagram story on Wednesday evening, confirming widespread industry speculation about a potential acquisition.
According to details released, E.l.f Beauty will acquire Rhode for $800 million in a combination of cash and stock, with an additional $200 million payout contingent on the brand’s future sales performance. The deal is expected to be finalized later in 2025, pending regulatory approval.
Despite the sale, Hailey Bieber will remain closely involved with Rhode, continuing as CEO and head of innovation, as well as serving as a strategic advisor at E.l.f Beauty. Hailey co-founded Rhode in 2022, and the brand quickly rose to prominence in the beauty industry for its minimalist aesthetic and focus on skincare essentials.
The acquisition marks a major milestone in the celebrity beauty business and underscores the growing influence of celebrity-founded brands in the global cosmetics market.