Hailey Bieber is officially a beauty billionaire… kind of.
In a landmark deal that signals both the cultural and commercial might of Rhode Beauty, E.L.F. Cosmetics has acquired the skincare and makeup empire for a staggering $1 billion USD. Just three years after its launch, Rhode—famed for its peptide-packed lip balms, glossy serums, and the now-iconic Glazing Milk—has become one of beauty’s most bankable brands.
“We can’t wait to bring Rhode to more faces, places, and spaces,” wrote Bieber, who isn’t stepping away but rather stepping up in her creative control. The 28-year-old founder will remain the face and force of the brand, now serving as Chief Creative Officer and Head of Innovation. Alongside co-founders Michael D. Ratner and Lauren Ratner, she plans to lead Rhode into its next global chapter, with expansion into Sephora stores in the U.S., Canada, and the U.K. slated for later this year.
E.L.F. chairman and CEO Tarang Amin praised Rhode as a “like-minded disruptor,” perfectly poised for what he calls “rocketship growth.” The acquisition includes $800 million USD in cash and stock at closing, with an additional $200 million in potential earnouts.
The billion-dollar news follows Rhode’s breakout hits—the Pocket Blush and new Lip Shape liners, among others—and positions Bieber as not just another celebrity entrepreneur, but a serious power player in beauty.
“I found a like-minded disruptor with a vision to be a different kind of company that believes in big ideas and innovation in the same way that I do and will help us continue to grow the brand,” Bieber wrote on Instagram. “I feel invigorated, excited and more ready than ever to step into an even bigger role.”
For fans of her iconic ‘glazed’ skin and minimalist glam, it’s an exciting prospect that Rhode, under Bieber’s direction, isn’t going anywhere. As the mogul herself put it, “This is only the beginning.”
This story first appeared on GRAZIA International.
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