Hailey Bieber has reached a Milmillonario Agreement. The businesswoman, daughter of actor Stephen Baldwin and wife of singer Justin Bieber, has just given a ball in the world of beauty, where the brands commanded by celebrities seem to be on the rise. The 28 -year -old girl has just sold her company, called Rhode (which is her second name), for one billion dollars. However, she will take a much smaller percentage of that money, not being the only owner of the company. It has been the American firm of beauty products ELF which has reached a deal with the businesswoman to keep her porpholio on Wednesday and thus expand her universe, more focused on makeup, towards skin care, in which Rhode specializes (although it also makes color products). According to the specialized press, the Rhode Agreement with ELF – which quotes in the New York Stock Exchange, at about $ 89 the action today – includes a payment of 600 million dollars in cash, in addition to 200 million in shares and 200 million dollars in future payments, which will depend on the growth of the company in the next three years, as Vogue explains. He had reached net sales of more than 212 million dollars. Therefore, Bieber will keep his position as responsible for innovation and creative, but it is unknown how much money he will earn in the process, since it is not known what percentage of the company is really his. Although he gave his name, his face and his magical touch when selling, there are actually two financing vehicles after it, called Angel Capital Management and Aser Ventures. The percentage participation of Bieber in the company is unknown, and therefore the money that will be taken, but media such as Forbes calculate “nine figures”, that is, a maximum of about 10 million dollars. Bieber’s company – caught with the singer since 2018, with whom he has a son, Jack Blues, nine months – has only three years of life, and she will continue to have the creative control after this financial agreement. He reached the markets in the summer of 2022 with only three products and became viral especially thanks to a simple tube -shaped lip balm, for which the businesswoman created an ad hoc mobile cover, which was a sensation in networks and sales. The agreement will close, explained the brand, between the months of July and September. The executive director of ELF has told in an interview with the CNBC chain that, after 34 years in the consumer market, I had not seen such good figures in such a short time as Rhode. “I never thought it was possible,” said the CEO, Tarang Amin. “So that level of disruption definitely caught our attention.” While their products have a low price, of just over six dollars, those of Rhode are in almost 30, which will bring them closer to another type of consumer. Bieber himself – in full media pull, since he starred in the cover of Vogue’s summer number in the United States – has assured in a state Better to her community “with more innovative products and expanding the global distribution.” As he explained in an interview in Forbes, Bieber sought to create a very specific selection of products and flee from chaos and the noise of the huge market of global beauty. In 2024 it became the skin care brand with the best media assessment, with a 360%growth. In addition to its website, Bieber managed to place the product on the Sephora website, a very important distributor in the sector. Precisely a few days ago, Sephora announced that it would start selling the brand in physical shape in the United States, Canada and the United Kingdom. Bieber’s is the last success case that demonstrates that celebrities – especially the famous – no longer conform to give his name to a perfume or a lipstick, but are involved in a creative and even financial process with enormous success. A good friend of Bieber, Kylie Jenner – a small brother of the Kardashian clan – achieved more than 600 million in 2019 after selling 51% of her homonymous brand to Giant Coty. That movement managed to put it in the Forbes list of Milmillonarios, although it was subsequently expelled, when it was learned that it had inflated the accounts. It has also worked very well in the Rare Beauty market, the Selena Gomez brand – precisely, ex -partner of Justin Bieber -, which with just five years of life is valued at 2,000 million dollars and in 2023 it had a benefits of 367 million dollars. Rihanna and her firm, Fenty Beauty, were pioneers in inclusiveness, with many tones in their makeup bases; Its products are still a sales success. (Tagstotranslate) Fashion
