Can Hailey Bieber Break Beauty’s M&A Slowdown?
Industry sources weigh in on Rhode's viability as an acquirable asset.
Can Hailey Bieber break the beauty M&A curse?
Sources have confirmed to WWD that her beauty brand Rhode has hired J.P. Morgan and Moelis to jointly explore deal options at a valuation of $1 billion, after a bevy of brands entered the market in the last year that never culminated in deals. Rhode’s sales are understood to be around $200 million.
Neither Rhode, J.P. Morgan nor Moelis could be reached for comment by press time.
News of the deal raised eyebrows among industry sources with knowledge of the brand’s financials.