Celebrity brands never release their numbers — until now. Beauty brand e.l.f. didn’t just acquire Hailey Bieber’s Rhode… they published every single line item of the company’s P&L. From shockingly low cost of goods sold to a 9x marketing efficiency ratio, Sammi unpacks why Rhode operates more like a billion-dollar conglomerate than a three-year-old celebrity brand.

You’ll hear the real story behind the billion-dollar headline, why e.l.f. revealed Rhode’s financials days before earnings, and how a temporary sales dip shook Wall Street. Then, Sammi explains the record-breaking Sephora launch, the risks Rhode faces with limited SKUs, and why Hailey’s personal involvement is the brand’s ultimate moat.

Finally, Sammi zooms out: what Rhode teaches us about cultural capital, beauty economics, and the future of creator-led brands — plus how it all compares to Rihanna’s Fenty and the cautionary tales of celebrity beauty past.

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Here’s what Sammi covers today:

00:00 The e.l.f. Acquisition of Rhode

03:07 e.l.f.’s Unprecedented Financial Disclosure

03:44 Analyzing Rhode’s Financials

07:15 The Sephora Launch and Its Impact

08:17 Challenges and Future Prospects for Rhode

10:28 Comparing Rhode and Fenty

11:03 Future Predictions on Beauty
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