Rhode Sales Top $500 Million in a Year as Brand Targets $1 Billion Globally

Key Facts

Rhode sales topped $500 million between June 2025 and June 2026, according to CEO Nick Vlahos. The figure puts the e.l.f. Beauty-owned brand before a new target: becoming the fastest beauty brand to reach $1 billion in global net sales. Vlahos said reaching that level as quickly as possible is the brand’s ambition, without specifying a target date. The figures come as Rhode expands its distribution beyond the United States. That expansion is reflected in its European presence and Sephora store network, alongside continued direct-to-consumer sales.

The reported figure marks an acceleration from Rhode’s $212 million in net sales for the twelve months ended March 31, 2025, according to e.l.f.’s announcement when it disclosed the acquisition deal in May of that year. The deal had a potential total value of $1 billion, including $800 million due at closing in cash and shares, plus $200 million in potential incentives tied to the brand’s growth over three years. In its latest results, e.l.f. did not disclose Rhode’s standalone sales for the fiscal second quarter. But the parent company reported sales of $520.8 million in the quarter ended September 30, 2026, up 51% from the same period a year earlier. Those sales topped Wall Street analysts’ expectations of $470.3 million, according to Reuters.

The growth plan depends heavily on expanding distribution in Europe, where Rhode became available through Sephora online and in most of its European stores as of September 30, 2026, according to e.l.f.’s announcement. The launch covered 19 new European countries, in addition to existing markets in Canada, the United Kingdom and the United States. Vlahos said the brand is present in 19 European countries and that about 74% of its social media followers live outside the United States. These figures indicate that its international audience base is ahead of the brand’s store presence, leaving room to expand distribution. Vlahos said Rhode is available in only about 40% of Sephora stores worldwide.

Rhode is keeping direct-to-consumer sales as part of its model, which the company described as a core part of the brand. This channel runs alongside expansion through Sephora, broadening customer access as the brand enters new European markets. As the parent company grows, e.l.f. raised its fiscal 2027 net sales growth forecast to a range of 22–24%, compared with a previous forecast of 18–20%. Its net sales also reached $1,000.2 million in the six months ended September 30, 2026, up 43% year over year. The company ties part of the acquisition deal’s obligations to Rhode’s performance: it recorded a $17.7 million adjustment to the fair value of contingent consideration and said this reflected the brand exceeding revenue incentive thresholds.

In the fiscal second quarter, e.l.f. reinvested $52 million in tariff refunds in marketing campaigns and reduced prices on about 10% of its products, according to the chief financial officer. But she warned that marketing spending supported by one-time refunds would not remain at the same level next year, and that the company would reset it at the start of its next fiscal year. Reuters said Rhode’s expansion into more physical stores could pressure gross margin, despite the company continuing to forecast strong margins. For Rhode, Vlahos said the brand would continue accelerating its business growth next year. e.l.f. Beauty shares closed at $118.46 on November 11, 2026, according to EL7 data.