Hailey Bieber becomes a billionaire: drama for the sale of Rhode!

Hailey Bieber becomes a billionaire: drama for the sale of Rhode!

Weiz, Österreich - Hailey Bieber, the successful model and social media star, has her luxury cosmetics brand Rhode for impressive one billion dollars to E.L.F. Beauty sold. This was today by E.L.F. Beauty, based in Oakland, California, confirmed how Kleine Zeitung . The deal includes a payment to the Rhode shareholders of $ 800 million in cash and stocks, whereby an additional intake out of $ 200 million is expected, depending on certain performance indicators.

The Rhode brand was founded by Bieber in 2022 and quickly developed into a darling under Gen Z and Millennials, especially through products such as the "Peptide Lip Treatments", which have made a name for themselves through viral marketing strategies on Tiktok. By March 31, 2025, net sales of an estimated 212 million euros will be forecast for Rhode. USA Today Pop-up stores are available.

strategic development

The takeover of RHode marks a strategic realignment for E.L.F. Beauty that plans to offer Rhode products in their Sephora branches in the USA and Canada from autumn. This expansion is intended to the prestige beauty products from E.L.F. expand. The CEO of E.L.F., Tarang Amin, described Rhode as a rapidly growing brand that has set itself the task of making prestige products accessible to everyone. Bieber continues to be a chief creative officer and strategic consultant at E.L.F. Beauty.

The global beauty industry, in which Rhode acts, achieved sales of $ 504 billion in 2022 with a growth rate from 15 percent from 2021 to 2022. Skin care and cosmetics are in market shares of 42 percent and 14.6 percent. According to Medihair , millennials are important consumers in the beauty industry and make up 36 percent of global consumers.

a personal milestone

The sale of Rhode makes Hailey Bieber a billionaire. In addition to her business success story, Bieber is also active as a model after starting her career at Ford Models and working with renowned brands such as Ralph Lauren and Tommy Hilfiger. She married the pop star Justin Bieber in 2018, and the couple welcomed her son Jack Blue last summer, whose birth Bieber was "the most difficult thing I've ever done".