Hailey Bieber’s entrepreneurial journey
Hailey Bieber has officially joined the ranks of billionaires following the sale of her skincare brand, Rhode Beauty, to e.l.f. Cosmetics for an impressive $1 billion. This monumental deal not only marks a significant milestone in her career but also highlights the growing influence of social media personalities in the business world. Launched in 2022, Rhode Beauty quickly gained traction, thanks to Hailey’s established presence as a model and influencer, coupled with her vision for a skincare line that emphasizes quality and accessibility.
The acquisition details
The acquisition, announced on May 28, includes $800 million in cash and stock at closing, with an additional $200 million contingent on Rhode’s future performance. This deal represents e.l.f.’s largest purchase to date, surpassing its previous acquisition of Naturium for $355 million. Hailey will continue to serve as Chief Creative Officer and Head of Innovation at Rhode, ensuring that her vision for the brand remains intact as it transitions into this new phase under e.l.f.’s umbrella.
Justin Bieber’s supportive role
While Justin Bieber has faced scrutiny for his past comments regarding Hailey’s career, he has remained largely supportive following the announcement of the acquisition. On social media, he shared a heartfelt post celebrating Hailey’s achievements, despite earlier missteps in acknowledging her Vogue cover. Their relationship, which began in 2018, has weathered public speculation and challenges, yet they continue to demonstrate a strong partnership. Justin’s recent gestures of affection and support during Hailey’s professional milestones reflect a deep bond that transcends the pressures of fame.
The future of Rhode Beauty
As Rhode Beauty embarks on this new chapter, Hailey’s commitment to innovation and expansion remains a focal point. In her own words, she expressed excitement about partnering with e.l.f., a company she believes shares her vision for disruption in the beauty industry. This collaboration is poised to elevate Rhode’s presence in the global market, allowing the brand to reach new audiences and continue its trajectory of growth. With Hailey at the helm, Rhode Beauty is set to redefine beauty standards and consumer expectations in the skincare sector.
