In a major business move, Hailey Bieber’s cosmetics brand, Rhode, has been acquired by ELF Beauty in a deal worth $1 billion. The agreement, announced on Wednesday, includes an $800 million upfront payment—a combination of cash and stock—with an additional $200 million tied to the brand’s performance over the next three years. To finance the acquisition, ELF Beauty secured a $600 million loan.
Bieber, 28, launched Rhode in 2022 with ambitious goals, and the sale marks a significant milestone for the young entrepreneur. In a heartfelt post on her personal blog, she expressed excitement about the new chapter, calling ELF Beauty a like-minded partner that shares her vision for innovation and growth. She emphasized her commitment to expanding Rhode’s reach globally while maintaining the brand’s core values.
Despite the sale, Bieber will retain her role as Rhode’s chief creative officer and head of innovation, as well as serve as a strategic advisor to ELF Beauty. The deal comes amid reports of financial struggles faced by her husband, Justin Bieber. The 31-year-old pop star allegedly accumulated debt following the cancellation of his 2022 Justice tour, with sources revealing he owes over $8 million. Earlier this month, Page Six reported that Justin’s former manager, Scooter Braun, lent him money to help cover the outstanding tour debts.
The sale of Rhode not only solidifies Hailey Bieber’s status as a successful businesswoman but also highlights the brand’s rapid growth in just two years. With ELF Beauty’s backing, Rhode is poised for further expansion, while Bieber remains at the helm of its creative direction. Meanwhile, the couple’s financial situations have drawn public attention, with Justin’s debts contrasting sharply with Hailey’s lucrative business deal.
