Want to build a skincare line that sells for $1 billion? Find a celebrity face to represent the brand.
Hailey Bieber’s rhode line made $212 million in sales in the year ending March 31 after just three years of business. This week, she sold the direct-to-consumer brand to Oakland-based e.l.f. Beauty, which will put rhode products on shelves at the cosmetics chain Sephora.
But the sale price isn’t because rhode’s products are unique among the myriad skincare lines on the market, said a Northeastern University chemistry professor who has her own skincare company.
“Celebrity is probably the most influential value-add to the sale,” said Leila Deravi, an associate professor of chemistry and chemical biology.
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Photo by Anthony Behar/Sipa USA (Sipa via AP Images)