In the biggest beauty news of the year, this morning it was announced that affordable cosmetics giant e.l.f. has acquired Hailey Bieber’s Rhode Beauty. Bieber will remain with the brand as Chief Creative Officer and Head of Innovation and the sale has reportedly made 28-year old founder and “glazed doughnut skin” queen Hailey Bieber a billionaire. More importantly, its given Australian beauty fans hope that we may finally see Rhode on our shores.
In our global beauty village, there are no longer many international brands we can’t get our hands on without an overseas trip. Glossier and Charlotte Tilbury are now ranged through Mecca and online stores like French Beauty Co. have let us shop cult French pharmacy skincare, like A313 and Embryolisse Lait-Crème Concentré. But there is one remaining white whale for beauty lovers: Rhode. Hailey Bieber‘s skincare brand Rhode Beauty founded in 2022. Have a beauty girl friend headed to New York? You best believe she’ll come back loaded with Rhode Phone Cases, Peptide Lip Tints, Barrier Butters and of course the brand’s Rhode Blush in Toasted Teddy (the Charlotte Tilbury “Pillow Talk” of the Rhode universe).
Rhode is already an enormous success in the beauty space. As reported by WWD in the last financial year ending March the brand had generating $212 million US in net sales. Impressive given its range is limited to just ten products, almost all of which have achieved virality. So why has Hailey sold? There’s been some concern that the Rhode brand will struggle to scale and is to dependant on the founder who made it such a success. Hailey Bieber’s TikTok get ready with me videos have been the best launching pad a brand could hope for lending it precious cachet — Vogue Business reported that Bieber’s social content alone has driven $400 million US in earned media revenue for the brand. But, being too closely associated with a celebrity founder can introduce problems for brands down the line (as anyone who watched the Martha Stewart Netflix documentary or gobbled up the Matilda Djerf bullying scandal will know).
But Will Rhode Be Available In Australia?
Lauren Ratner, co-founder and Chief Brand Officer at Rhode certainly teased global expansion in her announcement on Instagram. “Today, we are so excited to announce an agreement to join the e.l.f. Beauty family to help take our company to the next level and expand globally,” she wrote. “I look forward to continuing on in my role as President & Chief Brand Officer and partnering to bring more innovative products to more people across the world with your support.” So, does all this talk of global expansion include Australia?
In Australia E.L.F is available through pharmacy retailer Priceline and e-commerce site Adore Beauty. The news doesn’t necessarily mean that Rhode will land in similar stores. The brand has a higher price point that e.lf. products and in the US Rhode is rolling out through Sephora, first in the US and then in the UK and Canada. Sadly for Australia, the Sephora on our shores is Sephora Asia meaning we cannot assume agreements made across the ocean will be made here. And of course, Mecca have been known to nab brands that sit in Sephora aisles in the US for their shelves. Essentially? We’ll have to sit tight but the news bodes well for fans looking to finally achieve a glazed doughnut glow.
What Is Hailey Bieber’s Net Worth?
A lot. e.l.f Beauty is acquiring Rhode for $800 million, in a deal comprised of $600 million in cash and $200 million of newsly issued shares of e.l.f Beauty common stock according to inkl. These have been issued to equity holders of Rhode, including Bieber. On top of her existing wealth this has now tipped Hailey Bieber into the billionaire category only three years after the launch of her brand. Notably, her husband Justin Bieber has a relatively paltry net worth of $300 million (all figures in US).
Our girl may finally beat the nepo baby and trophy wife charges.
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