Hailey Bieber Sells Beauty Brand Rhode in a $1 Billion Deal
Hailey Bieber has struck a billion-dollar deal in the booming world of celebrity beauty brands. The 28-year-old entrepreneur, daughter of actor Stephen Baldwin and wife of singer Justin Bieber, has sold her skincare company Rhode for an impressive $1 billion. However, as she’s not the company’s sole owner, Bieber will reportedly walk away with a smaller share of the payout.
The buyer is U.S. cosmetics company e.l.f. Beauty, which aims to expand its primarily makeup-focused portfolio into skincare—a category where Rhode has made a significant mark since its launch. The acquisition deal includes $600 million in cash, $200 million in e.l.f. shares, and an additional $200 million in potential future payments based on Rhode’s growth over the next three years, according to Vogue. e.l.f., which trades publicly on the New York Stock Exchange, was valued at around $89 per share on the day of the announcement.
As of March 2025, Rhode had generated over $212 million in net sales, according to official reports. While Hailey Bieber will retain her role as Head of Creative and Innovation under e.l.f.’s ownership, details about her personal financial gain remain undisclosed. Though the brand carries her name, image, and creative vision, the company is backed by investment firms Angel Capital Management and Aser Ventures. Media outlets like Forbes estimate Bieber’s take from the sale could be in the “nine-figure range,” possibly around $100 million.
Founded just three years ago, Rhode quickly became a viral sensation after its 2022 debut with just three products. A simple lip balm in a tube, accompanied by a phone case designed to hold it, captured the attention of social media users and shoppers alike. The brand’s meteoric rise attracted industry-wide admiration, including from e.l.f. CEO Tarang Amin. In an interview with CNBC, Amin remarked: “After 34 years in consumer products, I’ve never seen anything like this. The level of disruption truly got our attention.”
The transaction is expected to close between July and September of this year. For e.l.f., the deal provides access to a slightly more premium segment of the beauty market, as Rhode’s products average nearly $30, compared to e.l.f.’s affordable $6 price point.
Hailey Bieber, who is also featured on the current summer cover of Vogue US, expressed her excitement in an official statement. She emphasized that the partnership would allow Rhode to reach “more faces, places, and spaces,” accelerating its global distribution and product innovation.
In a Forbes interview, Bieber explained her vision of building a tightly curated product lineup that avoids the clutter of the oversaturated beauty market. In 2024, Rhode became the most valuable skincare brand in media rankings, experiencing 360% growth. The brand’s presence expanded beyond its website to major retailers like Sephora, which recently announced plans to stock Rhode in physical stores across the U.S., Canada, and the U.K.
Hailey Bieber’s success story joins a growing list of celebrities who are deeply involved in the creation and financial management of their beauty brands, going far beyond simply lending their names. Her friend Kylie Jenner made headlines in 2019 after selling 51% of her Kylie Cosmetics to Coty for over $600 million, briefly earning a spot on Forbes’ billionaire list (though she was later removed after questions arose over financial discrepancies).
Other celebrity-driven beauty brands have also flourished. Selena Gomez’s Rare Beauty, founded five years ago, is now valued at $2 billion, with $367 million in profits reported in 2023. Rihanna’s Fenty Beauty, widely praised for its inclusive product range, continues to thrive as a market leader.
The Rhode acquisition underscores the continuing power of celebrity brands in the beauty industry—and Hailey Bieber’s billion-dollar deal is just the latest proof of that unstoppable trend.
