Hailey Bieber officially sold his beauty line in a billion dollars contract.
According to a recent press release from the cosmetic brand, the 28 -year -old beauty magnate sold his skin company Rhode to Elf Beauty for $ 1 billion.
Hailey shared that the decision had been made in the hope of “bringing rhode to more spaces, places and faces on a global scale”.
The agreement includes 800 million dollars in cash and shares granted to Rhode owners – CEO Nick Vlahos, Hailey Bieber and co -founders Lauren Ratner and Michael D. Ratner – When the agreement is finalized. According to the press release.
However, Hailey will keep his position as head of creation and chief of innovation in Rhode, as well as strategic advisor for Elf
By taking on his Instagram account, the model shared his reflections on his big move by saying: “I have always had big dreams for the company, and the most important thing for me is to continue to bring rhode to more spaces, places and faces worldwide.
“So, today, I am incredibly excited and proud to announce that we associate ourselves with Elf Beauty while we are entering this next chapter in the world of Rhode,” she announced.
She also noted that “the construction of Rhode was one of the greatest experiences of her life”.
