Reported 3 months ago
Hailey Bieber's beauty brand, rhode, has been sold to e.l.f. Beauty for $1 billion, marking e.l.f.'s largest acquisition ever. Founded in 2022, rhode reported $212 million in net sales last year and has gained significant popularity, often causing product sell-outs. Bieber will continue as the chief creative officer. The deal includes $800 million in cash and stock, with an additional $200 million contingent on rhode's future performance.
Source: YAHOO