American model and the wife of singer Justin Bieber Hailey Bieber has made a bold decision in her business.
The model who is the Ceo of a beauty brand; skin care and make up (Rhode) has officially sold to E.l.f beauty in a whopping $1 billion deal.
Hailey shared this good news to her fans on instagram informing them of the shift and what they should expect moving forward.
Interestingly as part of the deal the model will maintain her position as Rhode’s CEO and head of innovation.
E.l.f beauty reportedly plans to pay a whooping $800 Million in cash as part of the agreement and pay the balance of $200 million later as the business progresses.
Depending on regulatory approvals, the purchase is anticipated to be completed later in 2025.
In 2022, Hailey Bieber co-founded Rhode with the goal of providing premium skincare products at a reasonable cost. In a matter of years, the brand rose to prominence in the cosmetics sector because of its viral products and simple design.
Recall that it was reported last week her husband Justin Bieber was reported to have sold his music catalog for $200 Million due to financial difficulties
