e.l.f. Beauty acquires Hailey Bieber’s rhode for $1B, expanding into prestige skincare and accelerating global growth with innovation at the core.
e.l.f. Beauty signed a definitive agreement to acquire rhode, a fast-growing, multi-category lifestyle beauty brand founded by Hailey Bieber known for its collection of high-performance, skin-focused products. This powerhouse alliance between e.l.f. Beauty and rhode is built on both brands’ shared focus on disruption and product innovation, setting the stage for transformative global expansion.
The $1 billion deal is comprised of $800 million of consideration payable at closing in a combination of cash and stock, subject to customary adjustments, and an additional potential earnout consideration of $200 million based on the future growth of the brand over a three-year timeframe.
“e.l.f. Beauty found a like-minded disruptor in rhode,” said e.l.f. Chairman and CEO Tarang Amin. “rhode further diversifies our portfolio with a fast-growing brand that makes the best of prestige accessible. We are excited by rhode’s ability to break beauty barriers, fully aligning with e.l.f. Beauty’s vision to create a different kind of company. rhode is a beautiful brand that we believe is ready for rocketship growth.”
Bieber set out to create a brand centered around her skin care philosophy of “one of everything really good.” rhode’s multitasking and efficacious products, made with innovative ingredients for visible results, seek “to glaze your skin with goodness.”
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rhode has quickly established itself as a disruptor in content, commerce and community, building a robust direct-to-consumer business. The brand has seen incredible growth, more than doubling its consumer base over the past year and driving a total of $212 million in net sales in the 12 months ended March 31, 2025. rhode’s products are currently available on rhodeskin.com, with plans to launch its first physical in-store partnership with retailer Sephora throughout North America and the U.K. before the end of the year.
Bieber will continue her role as Founder and additionally serve as rhode’s Chief Creative Officer and Head of Innovation, overseeing creative, product innovation and marketing. She will also act as a Strategic Advisor to the combined companies. A defining voice in beauty, Bieber stands out as a cultural tastemaker and top beauty influencer. Her influence, paired with the brand’s innovative marketing strategy and team, fueled rhode to be the No. 1 skin care brand in Earned Media Value in 2024, representing 367% year over year EMV growth.
“We can’t wait to bring rhode to more faces, places, and spaces. From day one, my vision for rhode has been to make essential skin care and hybrid makeup you can use every day,” said Bieber. “Just three years into this journey, our 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 I continue as Founder and step into an expanded role of Chief Creative Officer and Head of Innovation, I look forward to leading the brand into this exciting new chapter of possibilities alongside my Co-Founders Michael D. Ratner and Lauren Ratner, who have helped bring my vision to life from the start.”
With the team since Bieber’s inception of rhode, Co-Founder Michael D. Ratner has guided rhode since its formation and has run the board as Co-Executive Chairman, while Co-Founder Lauren Ratner architected the brand and currently serves as President and Chief Brand Officer. The founders with CEO Nick Vlahos will continue to lead the brand out of its Los Angeles, California, office, nurturing its entrepreneurial spirit and maintaining the brand’s passionate team of employees.
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e.l.f. Beauty has taken a disciplined approach in pursuing strategic extensions that leverage the company’s strengths and has continued to thoughtfully diversify its business. e.l.f. Cosmetics founded in 2004 to democratize access to the best of beauty for every eye, lip and face, is the No. 1 brand in units across U.S. cosmetics and No. 2 in dollar share1. Five years ago, the company launched e.l.f. SKIN as its own brand to accelerate its potential in skin care. The acquisition of Naturium in 2023 then doubled the company’s skin care presence. The agreement to acquire rhode marks further diversification of e.l.f. Beauty’s business into the prestige beauty channel and into newer retail partners, like Sephora, the world’s leading global prestige retailer.
