Mannequin Hailey Bieber is exploring a sale of her make-up model Rhode that might be price greater than $1 billion, in line with three individuals acquainted with the matter.
Bieber has tapped funding bankers at JPMorgan Chase and Moelis to discover a purchaser for the beauty model that she launched in 2022, two of the sources stated, requesting anonymity because the matter is confidential.
Bieber joins an inventory of celebrities who’ve lately tried to money in on the recognition of consumer-focused ventures they launched lately.
In 2021, actor Jessica Alba pulled off a profitable preliminary public providing for her shopper items enterprise The Sincere Firm. Uncommon Magnificence, backed by Grammy-nominated singer Selena Gomez, has additionally been searching for a purchaser, in line with individuals acquainted with 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.
Magnificence traits akin to “glazed donut pores and skin” gained reputation after Bieber promoted her each day skincare routine.
Rhode, which was named after Bieber’s center title, generates annual income of almost $200 million, two sources stated. The Los Angeles-based model, which sells skincare merchandise and make-up, has collaborated with firms akin to Krispy Kreme to advertise sure merchandise.
Rhode appointed former The Sincere Firm chief government Nick Vlahos as its CEO final 12 months.
