Boss moves! Hailey Bieber sells Rhode for $1 billion
"This next chapter is going to be even more incredible together."
The 28-year-old has sold her skincare and beauty brand, Rhode, to e.l.f Beauty for a whopping $1 billion (R17.9 billion).
The model-turned-businesswoman launched Rhode, which is her middle name, in America just three years ago. She is a co-founder alongside Michael D. Ratner and Lauren Ratner.
Rhode quickly grew in popularity and launched in Canada, where her husband, Justin Bieber, is from. Some of its popular products include a glazing milk toner and peptide lip treatment.
Hailey is now ready to take her brand to the next level—global domination!
"When I launched @rhode in 2022, I always had big dreams for the company, and the most important thing to me is to keep bringing rhode to more spaces, places, and faces globally," she wrote in a statement on Wednesday.
"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."
Hailey adds that she found a "like-minded disruptor with a vision to be a different kind of company." She says e.l.f. believes in "big ideas and innovation" like she does and "will help us continue to grow the brand."
Despite e.l.f.'s acquisition of the brand, the mom of one will still play an important role in the company.
"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."
She concluded, "And to our rhode community, thank you for being the most supportive and for being on this journey, the next chapter is going to be even more incredible together! As I’ve said, this is only the beginning."
Several stars, including Paris Hilton, Candice Swanepoel and SKIMS founding partner Emma Grede, flooded the comments section with messages of congratulations.
"A BOSS!!!!! 🙌🏽🙌🏽🙌🏽🙌🏽🙌🏽," Grede wrote.
Hailey's friend Kylie Jenner, who sold a 51% stake of Kylie Cosmetics to Coty in 2019, was also thrilled for her.
"I could cry. 💓💓💓💓💓💓 Love you," she wrote.
e.l.f. shared further details about the billion-dollar deal.
"The $1 billion deal is comprised of $800 million of consideration payable at closing in a combination of cash and stock, subject to customary adjustments, and an additional potential earnout consideration of $200 million based on the future growth of the brand over a three-year timeframe," the company said in a statement.
The business move has been hailed as a smart one for the company.
"[Rhode] has seen incredible growth, more than doubling its consumer base over the past year and driving a total of $212 million in net sales in the 12 months ended March 31, 2025."
Rhode was named one of the most powerful beauty brands of 2024 and will soon be available at Sephora stores.
Talk about major boss moves!
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Main image credit: Instagram/@haileybieber