Hailey Bieber dropped a TikTok that has been causing a stir a few days after signing a billion-dollar beauty deal. Find out how the mega-award-winning beauty mogul celebrated her most notable victory yet.
Hailey Bieber had an iconic reaction after striking a deal to sell her beauty and skincare brand Rhode to e.l.f. Beauty in a transaction that could reach a staggering £740 million ($1billion). Hours after news of the massive deal broke, Hailey posted a TikTok to let people know just how she was celebrating.
As she dances to rapper JT’s song Ran Out while captioning the now-viral video clip “well.. good morning”!, Hailey can be seen wearing a strapless, black dress with her hair down and a big smile.
The beauty mogul was out having dinner at Alba in West Hollywood to celebrate her win. Her pop star husband, Justin Bieber, was conspicuously absent from the celebrations, as Hailey seemed to have stepped out sans husband (but with her girls) to celebrate the major milestone. Justin did however, post the news of the deal to Instagram, albeit without a caption.
The billion dollar move, announced on Wednesday, May 28, is being hailed by Vogue Business as one of the most significant beauty industry acquisitions of late.
Announcing the deal, Hailey took to social media and wrote: “When I launched rhode in 2022, I always had big dreams for the company, and the most important thing to me is to keep bringing rhode to more spaces, places, and faces globally. So today I am so incredibly excited and proud to announce that we are partnering with e.l.f. Beauty as we step into this next chapter in the world of rhode.
I came across a similar-minded disruptor who had the same aspirations to be a different kind of business and who values big ideas and innovation, which will allow us to keep the brand growing. I’m more motivated, upbeat, and prepared than ever to take on a bigger role as the CEO, head of innovation at rhode, and strategic advisor to e. f. Beauty.
READ MORE: What does Elf buying Rhode mean for us in the UK? A beauty editor takes a deep dive
In a press release, e. l. f. Beauty revealed that the agreement includes an initial $800 million in cash and stock and an additional “potential earnout consideration of $ 200 million based on the brand’s potential growth over the next three years.
Hailey will continue her role as founder and head of innovation at Rhode, leading creative initiatives, product innovation, and marketing strategies. She will also continue to be in this position. Additionally, she will step up to serve the newly merged entities as a strategic advisor.
READ MORE: Hailey Bieber sells beauty brand Rhode for $1billion just 3 years after launch
Hailey described her search for the ideal partner for her eponymous brand in a conversation with Vogue Business. The business owner said, “It was a really scary process, but when I met the Elf Beauty team, I could tell they had such a strong sense of community, and that speaks volumes to me because I know how I feel about our Rhode community.”
Hailey also praised e. f.’s creative approach to the beauty industry, saying, “I could have gone to a table of suits (referring to brand suitors), but Elf Beauty’s partnership offering was different.
Source: Mirror
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