Rhode's Expansion Could Unlock $200 Million in Sales for E.l.f. Beauty
E.l.f. Beauty is set to benefit significantly as Hailey Bieber's skincare and cosmetics brand, Rhode, expands into Europe through Sephora stores starting September 30. Bank of America analyst Anna Lizzul raised the firm’s price target on E.l.f. from $100 to $118 per share while maintaining a Buy rating due to higher expectations for Rhode. BofA estimates that this expansion could generate between $150 million and $200 million in annual sales within Europe alone, with the brand expected to be available across 40% of Sephora stores globally. The firm also forecasts increased fiscal performance from E.l.f., including a revised $601 million revenue projection for Rhode by fiscal year 2027. E.l.f. Beauty has already raised its full-year net-sales growth forecast in anticipation, and the company's stock is up over 22% this year due to strong sales performance and positive market sentiment.
Topics: beauty cosmetics expansion Hailey Bieber Sephora