e.l.f. Cosmetics Acquires Rhode In a Billion Dollar Deal
Hailey Bieber's skincare legacy is now official.
Hailey Bieber has once again turned the beauty industry upside down. On May 28, it was announced that e.l.f. Beauty would acquire the entrepreneur’s eponymous brand, Rhode.
“e.l.f. Beauty found a like-minded disruptor in Rhode,” said e.l.f. Chairman and CEO, Tarang Amin, in a press release acquired by Marie Claire. “Rhode further diversifies our portfolio with a fast-growing brand that makes the best of prestige accessible. We are excited by Rhode’s ability to break beauty barriers, fully aligning with E.l.f. Beauty’s vision to create a different kind of company. Rhode is a beautiful brand that we believe is ready for rocket ship growth.”
Hailey Bieber and e.l.f. Chairman and CEO, Tarang Amin.
Under the terms of the definitive agreement, e.l.f. Beauty has agreed to acquire Rhode for $800 million at closing, comprised of $600 million of cash and $200 million, or approximately 2.6 million of newly issued shares of e.l.f. Beauty common stock. These have been issued to existing equity holders of Rhode, subject to certain customary purchase price adjustments. In short, Hailey Bieber (along with her co-founders, Michael D. Ratner and Laura Ratner) just made a lot of money, only three years since the launch of the cult-favorite skincare brand.
This acquisition sees Rhode Skin joining the ranks of other brands under the e.l.f. umbrella, like Keys Soulcare, Well People, and Naturium. While we don’t know if this means the brand will undergo a rebrand, Marie Claire editors have long been fans of Rhode Skincare, so if you’re suddenly feeling the urge to hoard a few of the brand’s formulas in their original packaging, keep reading for a list of our favorite editor-approved products.
Perfect for the chilly fall and winter months ahead, Barrier Butter—which was teased in a campaign starring '90s supermodel Claudia Schiffer—derives its skin-plumping powers from a blend of hyaluronic acid to hydrate skin above and below the surface. It also contains a humectant known as polyglutamic acid to lock in moisture; a nourishing emollient called murumuru butter to decrease transepidermal water loss; and ceramide NP, a skin barrier-reinforcing lipid concentrate.
"This is my favorite milky toner I’ve tried," says Marie Claire commerce editor, Julia Marzovilla. "The texture is lightweight and velvety and smoothes my skin without making it greasy over the course of the day. I truly see a Bieber-level glow whenever I use it."
Another MC editor-favorite? The pocket blushes, which have a gorgeously inclusive shade range. “This is my new summer blush," Marzovilla says. "It looks super pigmented in the tube—and there’s definitely enough color payoff to back it up—but it’s surprisingly wearable, too.”
