Hailey Bieber, a model, is reportedly considering selling her makeup brand Rhode for over $1 billion. She has engaged JPMorgan Chase and Moelis investment bankers to assist in the sale. This move follows a trend among celebrities to capitalize on consumer-focused businesses they have launched in recent years.

In 2021, actress Jessica Alba had a successful IPO for her venture The Honest Company, while Rare Beauty, supported by singer Selena Gomez, is also looking for a buyer. Rhode, inspired by Bieber's middle name, brings in nearly $200 million in yearly revenue through its skincare and makeup products, including collaborations with companies like Krispy Kreme.

Named after Bieber's middle name, Rhode was established in 2022 and has gained traction thanks to her massive social media presence with over 50 million Instagram followers. The brand saw a surge in popularity for trends like "glazed donut skin" after Bieber endorsed her skincare routine.

Nick Vlahos, the former CEO of The Honest Company, was appointed CEO of Rhode last year. While JPMorgan and Moelis have declined to comment, Rhode has not responded to requests for statements regarding the potential sale.