E.l.f. Beauty CEO on Acquiring Rhode: 'Mutual Admiration' and Global Expansion

The Acquisition of Rhode by E.l.f. Beauty

• 🤝 The acquisition of Rhode by E.l.f. Beauty was driven by mutual admiration and a shared vision for disrupting the beauty industry.
• 🚀 Rhode's rapid growth, achieving $212 million in net sales in under 3 years with only 10 DTC products, significantly caught E.l.f. Beauty's attention.
• 🎯 E.l.f. Beauty aims to be a different kind of beauty company, building brands that disrupt norms, shape culture, and connect communities, a mission that Rhode aligns with.

Rhode's Growth and Global Vision

• 🌟 Rhode experienced a rocket ship-like growth trajectory, exceeding $200 million in revenue within three years.
• 🌍 Rhode's founder, Hailey Bieber, envisioned building a global brand and driving accessibility beyond the United States.
• 📈 E.l.f. Beauty's operational capabilities, including digital and physical retail presence, and global expansion, made them an ideal partner for Rhode's growth ambitions.

Hailey Bieber's Role and Brand Integration

• 💡 Hailey Bieber is viewed as more than a celebrity; she is a thoughtful founder with incredible instincts, a beautiful aesthetic, and a unique connection with consumers.
• 🔑 She will continue as Chief Creative Officer and Chief Innovation Officer for Rhode, and also serve as a strategic advisor to E.l.f. Beauty.
• 🧩 E.l.f. Beauty emphasizes a non-integrative acquisition approach, retaining the acquired brand's entire team and focusing on accelerating their vision, as seen with the Notorium acquisition.

Understanding Rhode's Connection with Consumers

• 🎨 Hailey Bieber is a taste-maker who embodies a lifestyle that blends personal style with product performance.
• 💬 This immersion of lifestyle and product creates engaging content that resonates with consumers and fosters brand advocacy.
• 📈 The demand for Rhode is unprecedented, as evidenced by its successful expansion into Canada with Sephora.

E.l.f. Beauty's Digital Strategy

• 🏆 E.l.f. Beauty is the number one brand among Gen Z, Gen Alpha, and millennials, indicating a strong grasp of reaching younger demographics.
• 📱 Their strategy focuses on strength across different social platforms, including TikTok, Twitch, and Roblox, where their community spends time.
• 🎮 E.l.f. Beauty boasts the number one branded experience on Roblox, highlighting their innovative approach to engaging consumers in the digital space.