Hailey Bieber, a well-known American model and media star, has sold her beauty company called Rhode. The buyer is a big makeup company named E.l.f Beauty. The deal is worth $1 billion.
Hailey shared this big news on her Instagram story on Wednesday night. She told her fans that E.l.f has bought her brand Rhode in a deal worth $1 billion.
The company E.l.f paid $800 million in cash and stocks to buy Rhode. There is also a chance Hailey could get another $200 million later if Rhode sells well in the future.
The deal is expected to be finished by the end of 2025. Even after selling, Hailey will still be the CEO of Rhode. She will also lead new product ideas and work as a special advisor for E.l.f.
Hailey started Rhode in 2022, and since then, the brand has grown fast. This big sale shows how popular and successful her beauty brand has become.
