Analysis: Is e.l.f. Beauty’s $1 billion Rhode deal a bid to become the next L'Oréal?

By Alessandro Carrara | Published: 2-Jun-2025
Colour Cosmetics Skin Care Finance

The entrepreneur’s skin care and make-up brand was snapped up by the US cosmetics company on 29 May

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The acquisition of Hailey Bieber’s Rhode by e.l.f. Beauty is poised to become one of the most significant beauty industry headlines of 2025. 

The entrepreneur’s skin care and make-up darling was acquired for an eye-watering US$1bn on 29 May, in a deal not many saw coming.

Bieber, who co-founded the brand in 2022, will maintain her title as founder and also serve in the newly created roles of Chief Creative Officer and Head of Innovation at Rhode. 

But more interestingly, she has also been appointed as a Strategic Advisor to both Rhode and e.l.f. Beauty.

This is not just about offloading Bieber’s wildly successful business, which generated $212m in sales in the year leading up to March 2025, but about growing an empire. 

The combined might of these two beauty giants is grabbing headlines globally, but what exactly does the future of these companies hold?

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