Hailey Bieber net worth has been growing substantially through her entrepreneurial ventures, is reportedly exploring a sale of her makeup brand Rhode, which could be valued at more than $1 billion according to sources familiar with the matter.
The model and influencer, who launched Rhode in 2022, has reportedly enlisted investment bankers at JPMorgan Chase and Moelis to find potential buyers for the cosmetics brand, with the two anonymous sources requesting anonymity as the matter remains confidential.
From Social Media Influence to Beauty Empire
Rhode, named after Bieber’s middle name, has quickly established itself as a heavyweight in the celebrity beauty space. According to sources cited in the Reuters report, the Los Angeles-based brand generates annual revenue of nearly $200 million. The company sells skincare products and makeup and has gained significant traction through successful marketing strategies and collaborations.
Beauty trends popularized by Bieber, such as the “glazed donut skin” aesthetic, helped propel the brand to prominence after she promoted her daily skincare routine to her massive social media following. With over 50 million Instagram followers, Bieber has effectively leveraged her influence to build a beauty powerhouse in just two years.
Family Business Connection
Hailey, who is married to singer Justin Bieber, comes from entertainment royalty as the daughter of actor Stephen Baldwin. Her celebrity connections and business acumen have helped position Rhode as a serious contender in the competitive beauty market.
The company made a strategic move in 2023 by appointing former The Honest Company chief executive Nick Vlahos as its CEO, signaling its ambitions for growth and potentially preparing for this sale exploration.
Celebrity Brand Success Stories
Bieber joins a growing list of celebrities who have successfully capitalized on their personal brands to build valuable consumer-focused ventures. The potential billion-dollar valuation of Rhode would place it among the most successful celebrity beauty brands.
For comparison, actress Jessica Alba‘s The Honest Company went public in 2021 with a successful IPO. Singer Selena Gomez’s Rare Beauty has also been seeking a buyer, according to sources familiar with that situation.
Rhode’s collaboration with companies like Krispy Kreme to promote certain products has helped build brand awareness beyond Bieber’s core fanbase, potentially increasing its attractiveness to buyers.
Neither JPMorgan and Moelis nor Rhode responded immediately to requests for comment on the potential sale.
Source: Reuters