The model and businessman Hili Rudd Bieber reached an idea of billions of dollars-and now he pays Beauter Elf Giant Giant Giant that SUM to get it. On Wednesday, Elf Beauty announced that she will get the Rhode Lifestyle brand founded by Bieber, which paid $ 800 million in cash and impossible for shares in conclusion, as well as an additional possible profit of $ 200 million based on Road growth over the next three years.
Bieber, married to singer Justin Bieber and the daughter of actor Stephen Baldwin, launched Rudd in 2022.
Rudd is a “disruption in the space of beauty”, the fields narrated the financial manager of dwarf beauty luck. “Healy built a brand that moved from zero to $ 212 million in less than three years.”
Rudd, who focuses on makeup and skin care, built powerful works for the consumer. The brand has been launched with three basic products – peptide glass liquid, barrier recovery cream, peptide lip treatment – its shows have since expanded.
The bowl is on social media for concrete recessions, with more than 3 million followers Instagram. Roses She was born 248 million dollars In the value of the acquired media (EMV) in 2024, an increase of about 366 % on an annual basis, according to Creatoriq, an impressive marketing tool. Bieber Personality Instagram account He has 54 million followers.
Rhode products are currently available on Rhodeskin.com, and the plans are to launch the first material partnership inside the store with it Sephora Through North America and the United Kingdom later this year.
In the world of cosmetics, Rhod is considered in the Prestige category for beginners, while Elf Beauty is more market. Fields said that getting Rod is helping to diversify the base of the channels, channels and supply chain. Rod has production in the United States, other parts of Asia, and Europe. “We have a disciplined approach to integration and purchases,” Fields explained. The company acquired the skin care brand in 2023 for $ 355 million, which doubled the presence of Elf Beauty in skin care.
“Road is more diversifying our portfolio with a quick -growing brand that makes the best of them in place,” said the Chairman of the Board and CEO of ELF and CEO of Tarang Amin in a statement.
Gamal dwarf Favorite brand Among the Gen Z and is gaining popularity with the millennial generation and Gen X. Bieber is among the links of celebrities and influencers. The company also cooperated with actress Jennifer Colydge, singers Megan Trinor, Alicia Keys and Manuel Trezo.
Bieber will continue as a founder and will also work as the chief creative official of Rhode and the head of innovation, supervision of the creative trend, innovation of products, and marketing. “I look forward to leading the brand to this new chapter, exciting from the possibilities, along with the founders of Michael de Ratner and Lauren Ratner,” she said.
Earlier this year, Bieber took advantage of investment bankers in Jpmorgan Chase And MELIS to find the buyer for a beauty brand, According to reports. Brand sales of the foundation that was established Exceeding one billion dollars In 2023, the growth of 57.8 % is an annual basis-its agreement exceeded the growth rate of the total cosmetic industry.
This story was originally shown on Fortune.com
https://fortune.com/img-assets/wp-content/uploads/2025/05/GettyImages-1255803556.jpg?resize=1200,600
Source link