Hailey Bieber's Rhode is getting acquired by Elf Beauty—here’s the billion-dollar tea

In a move no one saw coming—but now can’t stop thinking about—Hailey Bieber’s Rhode Beauty is officially being acquired by Elf Cosmetics for a whopping $1 billion. Yep, billion with a B.

The minimalist skincare brand, known for its dewy Glazing Milk and Peptide Lip Treatments (read: the internet’s glossiest obsession), is set to become part of the Elf empire. The deal will see Elf acquiring 100 per cent of Rhode, with the brand continuing to operate under its existing name, vibe, and aesthetic, just with a much bigger stage to shine on.

What does this mean for Rhode fans?

More availability, for starters. Rhode has, until now, been exclusively available through its own website, operating as a direct-to-consumer (DTC) brand with limited restocks and even more limited international shipping (cue the global heartbreak). But with Elf’s expansive retail network, that could all be about to change. Think Glazing Milk stocked at your nearest Sephora, Nykaa, or even Tira—right next to your favourite drugstore staples. A dream.

A new era for beauty enthusiasts

Rhode, launched by Hailey Bieber in 2022, quickly gained a cult following for its sleek, skin-first philosophy and glossy, pared-back product range. From the now-iconic Peptide Lip Treatment to the skin barrier-loving Glazing Milk, the brand has carved out its space in the highly competitive celebrity skincare scene.

According to reports, Rhode generated $212 million in net sales in the 12 months ending 31 March 2025. With demand skyrocketing and global interest at an all-time high, this merger is poised to take the brand’s reach to the next level, especially in markets like India, where shoppers have long waited for Rhode to land without the hassle of cross-border shipping.

The real deal

Let’s talk numbers. The billion-dollar deal includes $800 million payable at closing—comprising $600 million in cash and $200 million in Elf shares—with an additional $200 million contingent on Rhode’s performance over the next three years. So while the headline is a cool $1 billion, it’s not an all-cash transaction (we knew you’d ask). It’s a strategic investment designed for longevity and mutual growth.

Crucially, Hailey isn’t going anywhere. She’ll remain deeply involved with Rhode as Chief Creative Officer and Head of Innovation, while also serving as a strategic advisor to Elf Beauty. Speaking on the acquisition in an interview, she shared: “Just three years into this journey, our partnership with Elf Beauty marks an incredible opportunity to elevate and accelerate our ability to reach more of our community with even more innovative products and widen our distribution globally.”

Why Elf?

Let’s not forget who Elf is in all this. A Gen Z-approved, cruelty-free brand known for delivering high-performing, affordable products, Elf has practically earned its crown as the internet’s favourite dupe master. From giving luxury brands a run for their money with the Halo Glow Liquid Filter (hi, Charlotte Tilbury) to recreating cult skincare for a fraction of the price, Elf knows how to bottle the hype without breaking the bank.

But this move signals a shift. By acquiring Rhode, Elf isn’t just entering the prestige skincare market—it’s kicking down the door.

It’s also a strategic win for the brand's global ambitions. Unlike Elf’s core manufacturing base in China, Rhode’s supply chain is distributed across the US, Europe, and parts of Asia, giving Elf more flexibility and reach in the premium beauty space.

Rhode’s glow is going global

This billion-dollar merger is one of the most significant celebrity beauty brand acquisitions in recent memory, and it speaks volumes about the growing power of influencer-led, celebrity-driven skincare when done right. With Rhode’s aesthetic appeal and Elf’s retail muscle, the glazed era is just getting started.

Your next trip to the beauty aisle might just get a little shinier, a little milkier, and a whole lot more glazed.

Lead image: Getty

Also read: Say goodbye to monsoon frizz with these haircare heroes

Also read: 5 influencers just dropped their summer beauty line-up—and it’s hot girl summer approved