Hailey Bieber Recalls 'Gut' Feeling About rhode's $1 Billion e.l.f Beauty Deal: 'They're It'
Hailey Bieber reflected on rhode's $1 billion e.l.f. Beauy deal at the Business of Beauty Forum in Napa, Calif.
The rhode founder shared that she "knew in my gut" that e.l.f. Beauty was the right fit
The deal was announced on May 28, three years after rhode was launched in 2022Hailey Bieber is reflecting on her growing beauty empire.
On Tuesday, June 10, the model and entrepreneur, 28, appeared on stage at the Business of Beauty Global Forum in Napa, Calif., to chat about her cosmetics brand rhode. In May, Bieber's company inked a $1 billion deal with e.l.f. Beauty after three years of operation.'rhode is like my baby, I'm so precious about it,' the businesswoman told The Business of Beauty's executive editor Priya Rao, per Business of Fashion. 'The idea of ever even considering' a sale, she continued, was 'very, very big deal to me.'
Bieber recalled a meeting with the beauty giant prior to the sale. 'I remember walking away like, 'They're it,'' she said. 'I knew it in my gut. We just said so many of the same things."
The star also spoke about the brand's ethos and what she envisions for the future. "I am rhode and rhode is me," she shared. "It's not just about the product, it's the whole entire world of rhode."
"I know we've only been around for three years, and we're still such a baby, but I do see us being a legacy brand," Bieber shared. "rhode's going to go down as one of the greats."
On Mat 28, e.l.f. Beauty announced it would acquire rhode in a $1 billion dollar deal. Per Business of Fashion, e.l.f. Beauty "paid $600 million in cash for the brand plus $200 million in shares. An additional $200 million will be paid if Rhode's three-year growth goals are achieved."
According to a press release at the time of the announcement, Bieber will continue her role as founder and additionally serve as rhode's chief creative officer and head of innovation, overseeing creative, product innovation and marketing. She will also act as a strategic advisor to the combined companies.
The release also states that rhode was the No. 1 skincare brand in Earned Media Value in 2024, representing 367% year-over-year EMV growth.
'We can't wait to bring rhode to more faces, places, and spaces. From day one, my vision for rhode has been to make essential skin care and hybrid makeup you can use every day,' Bieber shared in a statement. 'Just three years into this journey, our partnership with e.l.f. Beauty marks an incredible opportunity to elevate and accelerate our ability to reach more of our community with even more innovative products and widen our distribution globally."
The entrepreneur added that she looks forward to the brand's "new exciting chapter" alongside co-founders Michael D. Ratner and Lauren Ratner, "who have helped bring my vision to life from the start.'
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Bieber also spoke to Allure about the news, saying, '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.'
She added about her decision to pair with the e.l.f. team, "Vibes matter!"
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Ahead of rhode's launch in June 2022, Bieber, who had previously gone viral for "glazed donut skin," spoke to PEOPLE about creating an all-inclusive beauty company.
"It was very important to me that if I open up the world of rhode, everyone is invited," she said. "Everyone is included. I wanted it to be accessible and attainable for everyone."
She also told PEOPLE: "What sets rhode apart is we're putting out a very curated, edited line of essentials — our philosophy is making one of everything really good."
Read the original article on People
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