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Hailey Bieber's beauty brand rhode just sold to e.l.f. for $1 billion
Hailey Bieber's beauty brand rhode sold to budget makeup powerhouse e.l.f. Beauty for $1 billion on Wednesday.
"We believe our unique China-based supply chain is an area of competitive advantage we've been honing for the past 21 years… (We) are committed to our China team and suppliers," the company said in its Wednesday earnings call.The rhode deal consists of $800 million in cash and stock, and potentially another $200 million based on how rhode performs over the next three years. "We believe our unique China-based supply chain is an area of competitive advantage we've been honing for the past 21 years… (We) are committed to our China team and suppliers," the company said in its Wednesday earnings call. Lionel Hahn/Getty Images via CNN Newsource Hailey Bieber attends the Vanity Fair Oscar Party in Beverly Hills, California, on March 12.
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