According to the U.S. Electronic Disclosure System (EDGAR) on Monday, U.S.-based cosmetics maker E.L. Beauty, a listed company on the New York Stock Exchange, will acquire Hailey Bieber’s cosmetics brand “Rode” for 1 billion dollars. It aims to advance into the basic cosmetics market.
“Lord is a beautiful brand ready to grow like a rocket,” said Tarang Amin, CEO of Elf Beauty. “We will further diversify our portfolio through this fast-growing brand.”
Hayley will continue to serve as the Lord’s founder and head of Elf Beauty’s Chief Creative Officer (CCO) and innovation to oversee product innovation and marketing.
Haley founded “Road,” named after her middle name, with two others in 2022. It doubled its customer base over the fiscal year ended in late March, with net sales of $212 million. The main seller is online shopping malls, but it will also enter North American and British retailer Sephora within this year.
SALLY LEE
US ASIA JOURNAL
