Hailey Bieber’s Beauty Brand Just Sold For $1 Billion

The supermodel-turned-makeup mogul will continue to serve as Rhode’s chief creative officer, head of innovation and strategic adviser.

Hailey Bieber is ready to enter her billionaire era. The former Maxim Hot 100 cover star just sold her Rhode skincare company to cosmetics giant E.l.f. for a staggering $1 billion. The acquisition came after Rhode, Bieber’s middle name, netted $212 million in the 12 months that ended on March 31.

Bieber, who’s famously married to pop superstar Justin Bieber, will continue to serve as Rhode’s chief creative officer, head of innovation and as a strategic adviser, per the Associated Press. She founded the brand as a skincare line in June 2022 before evolving it to include blushes, colored lip balms and lip liners.

E.l.f., which stands for “eyes, lips and face,” launched in 2004 as an affordable online-only makeup brand and subsequently expanded into big-box retail stores, growing a significant social presence along the way that includes a 7.4-million Instagram following. Under the terms of the agreement, E.l.f. will acquire Rhode for $600 million in cash and $200 million of newly issued shares of E.l.f. Beauty common stock. The deal also includes a potential payment of $200 million based on future growth.

Bieber is the latest big-name beauty to parlay her public image into a billion-dollar business. Kim Kardashian did the same with Skims after her half-sister Kylie Jenner hit the milestone with Kylie Cosmetics. Rihanna has achieved similarly lofty financial success with her lingerie brand, Savage x Fenty. It’s only a matter of time before Bieber’s brand lands her on Forbes’ billionaires list. Revisit her iconic 2017 cover shoot with Maxim photographer Gilles Bensimon in the gallery above.