Hailey Bieber’s Rhode acquired by e.l.f. Beauty in $1 billion deal

e.l.f. Beauty has announced a definitive agreement to acquire Hailey Bieber’s skincare brand Rhode in a deal valued at up to $1 billion. The transaction includes $800 million in cash and stock at closing and a potential earnout of $200 million, contingent on the brand’s performance over the next three years.

Founded in 2022, Rhode quickly gained traction in the U.S. for its minimalist skincare products and celebrity-led marketing. While the brand’s presence in India has been limited, its popularity surged globally thanks to Hailey Bieber’s influence and viral campaigns.

“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.”

As part of the acquisition, Hailey Bieber will continue to lead Rhode’s creative direction and product innovation as Chief Creative Officer and Head of Innovation. She will also serve as a Strategic Advisor to e.l.f. Beauty. Co-Founders Michael D. Ratner and Lauren Ratner, along with CEO Nick Vlahos, will remain in leadership roles.

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