E.l.f. Beauty acquires Rhode for 1 billion euros

Hailey Bieber has just closed what is probably the beauty deal of the year.

The most minimalist and viral skincare brand has been acquired by E.l.f. Beauty for a whopping 1 billion dollars. The American giant is thus striking a blow on the table and sending a brief but concise message: Gen Z is dictating the rules of the present.

Created in 2022 by Hailey, Rhode has achieved in just two years what other brands do (or don’t) achieve in a decade. The secret? A lethal mix of branding studied to the millimetre, a clean and careful aesthetic, and the face of its founder. Ten products, a clear message and an exquisite narrative.

The deal becomes the largest acquisition in E.l.f.‘s history: 800 million in cash and shares, plus an extra 200 million subject to future profits. An investment that, far from seeming excessive, responds to a tangible reality: Rhode has had a turnover of 212 million in the last twelve months and its media value has shot up 367% in 2024.

And this is just the beginning. Until now, the brand had opted for the DTC (direct to consumer) model, but in autumn it will be coming to Sephora in the US, Canada and the UK. A move that positions Sephora to compete head-to-head with competing brands such as Selena Gomez‘s Rare Beauty and Rihanna‘s Fenty Beauty.