NEWS
Breaking News: Hailey Bieber Celebrates $1 Billion rhode Deal After Receiving a ‘Generous Cash Payout’…see more
On Wednesday, May 28, the rhode founder, 28, announced that e.l.f. Beauty would be acquiring her beauty brand in a lucrative $1 billion deal. A source tells PEOPLE that Bieber didn’t even have to look for a buyer.
“This deal came to her,” the source shares. “She’s incredibly excited about this new step. She’s proud of how far rhode has come, and she truly believes that teaming up with e.l.f will help take the brand to the next level. The resources and support they’re bringing to the table are everything she’s been hoping for.”
The insider continues, “To be acquired and recognized by such a powerful global company feels like such an honor to her. She can’t wait to take rhode global. She also received a generous cash payout as part of the deal.”
Following the big announcement, Bieber stepped out for a celebratory dinner in Los Angeles in a black strapless mini dress by Saint Laurent by Anthony Vaccarello. She also wore black slingback pumps and a pair of black sunglasses.
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