The model just finalized a deal to sell her popular beauty brand Rhode to e.l.f. beauty for $1 billion.
The mother of one isn’t leaving her brand which she founded in 2022, though. Bieber will stay on as Rhode’s chief creative officer and head of innovation, the company said. She is currently serving as the brand’s creative director.
The deal is the biggest acquisition in e.l.f. Beauty’s history, far surpassing their $355 million purchase of Naturium in 2023.
With a strong social media presence, in addition to Bieber’s own digital footprint both before and after her marriage to singer Justin Bieber, Rhode “has a powerful engagement model,” e.l.f. said in its earnings call following the announcement.
Within just 3 years after its launch, Rhode has established itself as one of the hottest new beauty brands in the market. With their peptide lip tint and viral lip phone case, the brand captivates Gen Z market. Last year alone, the brand raked in over $200 million in net sales. The sale signals a growth spurt for the company, which plans to expand via Sephoras in North America and the United Kingdom.