Hailey Bieber made a major business decision about her cosmetics company Rhode. E.l.f Beauty agreed to purchase the makeup brand for one billion dollars. The celebrity model shared news about the sale through her Instagram account on Wednesday night. She started Rhode just three years ago and built it into a valuable business. The deal represents a huge success for the young entrepreneur.
E.l.f Beauty will pay 800 million dollars upfront through cash and company shares. Another 200 million dollars depends on future sales performance from Rhode products. The transaction should finish sometime during 2025 according to both companies. Hailey plans to stay connected with her brand after the sale goes through. She will keep working as the chief executive officer and lead product development.
The model also becomes a strategic consultant for E.l.f Beauty operations. Her role helps bridge the gap between both beauty companies. Rhode launched during 2022 with Hailey as a co-founder alongside other partners. The brand quickly gained popularity among young makeup users. This billion dollar deal proves that celebrity beauty brands can achieve serious financial success.
E.l.f Beauty will pay 800 million dollars upfront through cash and company shares. Another 200 million dollars depends on future sales performance from Rhode products. The transaction should finish sometime during 2025 according to both companies. Hailey plans to stay connected with her brand after the sale goes through. She will keep working as the chief executive officer and lead product development.
The model also becomes a strategic consultant for E.l.f Beauty operations. Her role helps bridge the gap between both beauty companies. Rhode launched during 2022 with Hailey as a co-founder alongside other partners. The brand quickly gained popularity among young makeup users. This billion dollar deal proves that celebrity beauty brands can achieve serious financial success.
