1 week ago
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e.l.f. Beauty has acquired Hailey Bieber's skincare marque successful a $1 cardinal deal.
NEW YORK -- e.l.f. Beauty has acquired Hailey Bieber's rhode skincare marque successful a $1 cardinal deal, the companies said.
Bieber's rhode had $212 cardinal successful nett income successful the 12 months that ended March 31. The company's products are lone disposable online, but by the extremity of this twelvemonth it plans to statesman an in-store concern with Sephora successful North America and the U.K.
Bieber, a exemplary and the wife of vocalist Justin Bieber, volition beryllium rhode’s main originative serviceman and caput of innovation and besides a strategical advisor to the combined companies.
Under the presumption of the agreement, e.l.f. volition get rhode for $600 cardinal successful currency and $200 cardinal of recently issued shares of e.l.f. Beauty communal stock. The woody besides includes an further imaginable earnout of $200 cardinal based connected the aboriginal maturation of the marque implicit 3 years.
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