News
News
Hailey Bieber sells
Elf Beauty acquires Rhode for one billion US dollars
American cosmetics company Elf Beauty has acquired the fast-growing make-up and skincare brand Rhode from model Hailey Bieber for one billion US dollars. 800 million US dollars will be paid in cash and shares, with up to 200 million US dollars to be paid if the brand achieves a certain level of growth within three years. ‘We are thrilled by Rhode's ability to break down beauty barriers,’ said Tarang Amin, chairman and CEO of Elf. Founded in 2022, the influential company's versatile products are made from innovative ingredients and are designed to ‘make skin glow with kindness.’ Hailey Bieber, who is married to singer Justin Bieber, will become Chief Creative Officer and Head of Innovation. Further information...
