E.l.f. Beauty Completes $1 Billion Acquisition of Hailey Bieber's Rhode Skincare Brand
E.l.f. Beauty has finalized its $1 billion acquisition of Rhode, Hailey Bieber's skincare brand, enhancing its market position and product offerings.
Hailey Bieber Becomes A Billionaire
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Overview
E.l.f. Beauty has finalized its acquisition of Hailey Bieber's skincare brand, Rhode, for up to $1 billion, including $600 million in cash and $200 million in stock. An additional $200 million is contingent on performance over three years. Launched in 2022, Rhode generated $212 million in sales in its first year and plans to expand into Sephora stores in North America and the UK by the end of 2025. Bieber will remain as chief creative officer and strategic advisor, focusing on product innovation. The deal aligns with E.l.f.'s strategy to enhance its skincare offerings amid market challenges.
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Analysis
- The articles highlight a positive outlook on e.l.f. Beauty's acquisition of Hailey Bieber's rhode brand.
- The partnership is seen as a strategic move that benefits both companies and the beauty market.
- There is optimism about future growth and increased mergers in the beauty industry.
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FAQ
e.l.f. Beauty gains a strategic entry into the premium skincare market by acquiring Rhode, enhancing its product offerings and market position. The acquisition aligns with e.l.f.'s goal to expand in the clinical-grade skincare category, which is growing rapidly.
After the acquisition, Hailey Bieber will remain involved with Rhode as the Chief Creative Officer and Head of Innovation. She will also serve as a strategic advisor to e.l.f. Beauty, focusing on product innovation and maintaining operational control over Rhode's creative direction.
The $1 billion deal includes $800 million in a combination of cash and stock payable at closing, with potential additional earnout considerations. Another report mentions $600 million in cash and $200 million in stock upfront, with an additional $200 million contingent on performance over three years.
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