Call her Hailey “Billionaire” Bieber because Rhode, the skincare and cosmetics brand she founded in 2022, has been acquired by E.l.f. Beauty in a US$1-billion deal.
Bieber’s Rhode had $212 million in net sales in the 12 months that ended March 31. The company’s products are only available online, but by the end of this year, it plans to begin an in-store partnership with Sephora in North America and the U.K.
Bieber will be Rhode’s chief creative officer and head of innovation and also a strategic advisor to the combined companies.
Under the terms of the new agreement, E.l.f. will acquire Rhode for $600 million in cash and $200 million in newly issued shares of E.l.f. Beauty common stock. The blockbuster deal includes an additional potential earnout of $200 million based on the future growth of the brand over three years.
Bieber shared the news of the $1-billion sale on Instagram, writing, “When I launched @rhode in 2022, I always had big dreams for the company, and the most important thing to me is to keeping bringing rhode to more spaces, places, and faces globally. So today I am so incredibly excited and proud to announce that we are partnering with e.l.f. Beauty as we step into this next chapter in the world of rhode.
“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. I feel invigorated, excited and more ready than ever to step into an even bigger role as Chief Creative Officer, and Head of Innovation of rhode as well as strategic advisor to e.l.f. Beauty.”
Bieber went on to thank her team, which has “helped me build over the years.”
“I couldn’t have done it without all of you. And to our rhode community, thank you for being the most supportive and for being on this journey, this next chapter is going to be even more incredible together,” she wrote.
“As I’ve said, this is only the beginning.”
Lauren Ratner, the co-founder of Rhode, shared a statement on Instagram, calling “the last 5 years building @rhode” one of the “greatest experiences of my life.”
Get daily National news
Get the day’s top news, political, economic, and current affairs headlines, delivered to your inbox once a day.
“I have poured everything I have into this company. For years, I have obsessed about every detail of the brand and how the world of rhode comes to life in every word, image, experience and package,” Ratner wrote. “I have been lucky enough to be surrounded by the most talented people who inspire me everyday and who have taught me so much.”
Ratner thanked Bieber for bringing her on as co-founder and “being an incredible partner.”
“Your vision for rhode and creative genius has changed the beauty industry. You are a force,” she added.
Ratner said she will be continuing her role as president and chief brand officer for Rhode, as well as “partnering to bring more innovative products to more people across the world.”
Bieber’s husband, Justin Bieber, celebrated his wife’s major business accomplishment by screenshotting her announcement and posting it on his Instagram page.
Bieber spoke with Allure about the news and told the publication, “When you’re launching a brand, you’re just so focused on what’s right in front of you at the time. And of course, you always have really big dreams and really big goals for it.”
“This is definitely one of those things being realized. I could have never anticipated that it would happen at this exact time,” Bieber said, adding that her decision to work with E.l.f. Beauty was because “Vibes matter.”
E.l.f. chairman and CEO Tarang Amin said the brand “found a like-minded disrupter in rhode.”
“Rhode further diversifies our portfolio with a fast-growing brand that makes the best of prestige accessible,” Amin said. “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.”
Rhode will join the roster at E.l.f. Beauty with Naturium, E.l.f. cosmetics and Alicia Keys’ beauty line, Keys Soulcare.
According to The Hollywood Reporter, if the deal between Rhode and E.l.f. Beauty fails to close under certain circumstances, E.l.f. will pay Rhode a termination fee of $65 million. The deal is expected to close in early fiscal 2026.
When Rhode first launched, the brand’s focus was solely on skincare, releasing just three products: a daily serum, moisturizer and the Peptide Lip Treatment. Bieber had often compared her skincare routine to a “glazed donut” so she wanted to combine the three products that create an ultra-dewy glazed skin look.
As Rhode continued to grow, the company launched Glazing Milk, Peptide Glazing Fluid, Barrier Butter and Barrier Restore Cream and eventually made its way into the cosmetics realm with Pocket Blush, Peptide Lip Tint and Peptide Lip Shape.
In February 2024, Rhode went viral after Bieber launched the Lip Case, which is a silicone iPhone case with a slot in the back to hold Rhode’s Peptide Lip products.
More recently, Justin tried to launch his new product idea similar to the Lip Case, but said he needed to get his wife to approve the idea before it could be created.
The Grammy-winning singer is working on a new fashion brand, Skylrk, and has been teasing sandals and clothing for the line on his Instagram page.
— With files from The Associated Press
© 2025 Global News, a division of Corus Entertainment Inc.
