It's safe to say the May 28 news that e.l.f. Beauty is acquiring Hailey Bieber's brand Rhode for $1 billion rattled the beauty world. Whether you're a Rhode loyalist or someone who merely has a TikTok account and likes beauty, chances are you've heard of the massive impact this brand has had on the market. The deal itself shows its value: the partnership is the fastest sale of its size in beauty, and Rhode's valuation is likely due to the brand's equity and stock value, plus the fact that it routinely does over $200 million in sales each year since its 2022 launch. The deal will also help facilitate Rhode's expansion into Sephora, making the brand more accessible than ever. As a beauty writer whose job it is to scour headlines, trending topics, and hot-button conversations, I was expecting to see endless reposts of this news with, of course, a combination of Bieber supporter and hate — such is the internet. What I wasn't expecting to see was Selena Gomez's name buzzing this morning on Google Trends. |
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