$1 billion. That’s the answer. Or rather that is just how much E.l.f. Cosmetics just paid for Hailey Bieber’s Rhode Skin. In a deal that went through this week, E.l.f. put acquired the brand known for its peptide lip treatments and glazing milk, has captured hearts across social media. This comes after it was announced Rhode Skin products would be available atSephora starting later 2025.
As E.l.f. moved to purchase Rhode, I imagine the high valuation comes from the move to retail, virality of the brand. But largely, I think the valuation was an attempt to beat out any other investors. 1 billion dollars is a lot of money, but maybe it would be money well spent. Will continued sales of Rhode give E.l.f. the return on investment they’re hoping for or will this go down as a foolish business move?
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