Hailey Bieber explores sale of her makeup brand – Business News
Model Hailey Bieber is exploring a sale of her makeup brand Rhode that could possibly be value more than $1 billion, in accordance with three people accustomed to the matter.
Bieber has tapped investment bankers at JPMorgan Chase and Moelis to search out a purchaser for the beauty brand that she launched in 2022, two of the sources stated, requesting anonymity because the matter is confidential.
Bieber joins a listing of celebrities who’ve just lately tried to money in on the recognition of consumer-focused ventures they launched lately.
Hailey Bieber is exploring a sale of her makeup brand Rhode that could possibly be value more than $1 billion, sources stated. REUTERS
In 2021, actor Jessica Alba pulled off a profitable initial public offering for her client items enterprise The Honest Company. Rare Beauty, backed by Grammy-nominated singer Selena Gomez, has additionally been searching for a purchaser, in accordance with people accustomed to the matter.
JPMorgan and Moelis declined to remark. Rhode didn’t instantly reply to requests for remark.
Bieber, who’s married to singer Justin Bieber and is the daughter of actor Stephen Baldwin, is a social media influencer, having amassed over 50 million Instagram followers.
Beauty trends resembling “glazed donut skin” gained recognition after Bieber promoted her each day skincare routine.
Bieber has tapped investment bankers at JPMorgan Chase and Moelis to search out a purchaser for the beauty brand that she launched in 2022. Hailey Bieber/Instagram
Rhode generates annual income of practically $200 million, sources stated. APEX / MEGA
Rhode, which was named after Bieber’s center title, generates annual income of practically $200 million, two sources stated. The Los Angeles-based brand, which sells skincare merchandise and makeup, has collaborated with corporations resembling Krispy Kreme to advertise sure merchandise.
Rhode appointed former The Honest Company chief govt Nick Vlahos as its CEO final 12 months.
