E.l.f. Counterpart and partner, Hailey Rhode Bieber //photo courtesy.
E.L.F yesterday announced their agreement to acquire rhode at $1 billion dollars, marking one of the largest celebrity beauty acquisitions in recent years.
The deal which include $600 million in cash, $200 million worth of e.l.f beauty stock and a potential $200 million in future payouts based on the company’s growth over the next three years.
Hailey launched Rhode in 2022, and gave the brand her middle name. She had the idea of creating a beauty line because of her passion for skincare. She therefore launched rhode by presenting her first ever rhode campaign with products like glazing milk, creams and lip peptides.
Her major aim was to help people take care of their skins through partnering with highly qualified dermatologists to come up with high quality skin products. She organized the first launch party, and rhode immediately became viral for its good quality.
Rhode’s performance quickly sky-rocketed and roughly two months after its launch, the brand won Allure’s Best of Beauty Award for its best selling , dermatology accepted and critically acclaimed products. Rhode also received the National Eczema Association Seal of Acceptance, it has also received a lot of praise for its creative campaigns.
According to forbes and other magazines, Rhode gives percentage of their sales to different organizations. They have raised a lot to help black women, moms and students
Rhode’s website has also been praised for its simplicity, accessibility and transparency. The ingredients on Rhode’s website show customers what role each ingredients play in the product
Hailey also started pop-up photo booth that ended being immensely successful. Her team also hired the best models including Alex consani, Claudia schiffer, Gabriette, Precious Lee and Tate Mcrae.
Netizens reacted differently to the news of e.l.f acquiring rhode. Some were disappointed and pointed out that Hailey selling Rhode to e.l.f was a cheap move and it would completely ruin the brand she worked hard to build, however, a bigger percentage applauded her move and said that selling her brand to e.l.f while still holding some power and authority over it is a clever move that might open the door to grand things
” 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. ” Hailey wrote on her instagram page.
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