Hailey Bieber’s skincare brand, Rhode, has just been acquired by e.l.f. Beauty in a deal valued at up to $1 billion. The transaction comprises $800 million in cash and stock today, along with an earn‑out of $200 million tied to future performance . Launched in June 2022, Rhode quickly grew into a direct‑to‑consumer sensation—reaching $212 million in net sales in the fiscal year ending March 2025 .

Behind that meteoric rise is Indian‑American dermatologist Dr. Dhaval Bhanusali, whose science‑driven formulations earned him the nickname “Willy Wonka of derm” and were instrumental in building Rhode’s signature products . His influence helped set Rhode apart, blending trust, innovation, and clean‑beauty appeal.

Hailey will continue in key roles—Chief Creative Officer, Head of Innovation, and strategic advisor—helping steer Rhode through its next chapter: expansion into Sephora, global distribution, and deeper integration within the e.l.f. portfolio . Industry experts see the deal as a signal of the beauty sector’s move away from celebrity endorsements toward celebrity‑founded brands with real ownership and operational heft, aligning with the trend set by brands like Fenty, Rare Beauty, and SKIMS .

Meanwhile, e.l.f. aims to use its manufacturing and retail muscle to scale Rhode faster, despite lingering uncertainties like tariffs—rendering this billion‑dollar beauty move a strategic bet on prestige growth .

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