The Business of Fashion Podcast

• Hailey Bieber on Building Rhode into a Billion-Dollar Beauty Brand

  When Hailey Bieber launched her beauty and skincare brand Rhode in 2022, it quickly built a loyal customer base and achieved rapid commercial success. By early 2025, Rhode had generated $212 million in net sales and, in May, was acquired by E.l.f. Beauty in a landmark $1 billion deal.“Rhode is not just about the product; it's the whole entire world of Rhode. I want people to feel something when they get the products. When they use it, I want them to feel that they are a part of something,” Bieber shared at The Business of Beauty Global Forum 2025. “I really do see us being a legacy brand. Rhode is going to go down as one of the greats.”In her first public appearance since the acquisition, Bieber joins The Business of Beauty’s executive editor Priya Rao on stage at Stanly Ranch in Napa Valley, California, during The Business of Beauty Global Forum to reflect on her launching her brand, her approach to world building and her vision for the future of Rhode. Key Insights: Rhode is intentionally positioned as more than a skincare brand. “It’s not just about the product, it’s the whole entire world of Rhode,” Bieber said. She envisions the company evolving into a lifestyle brand with editorial flair and cultural relevance beyond just beauty. "I want people to feel something when they get the products, I want them to feel that they are a part of something."Growing Rhode, Bieber rejected traditional beauty incubators and industry insiders in favour of building a close-knit team with a fresh perspective. “I knew I wanted to put my own money into it. I knew I always wanted to be the majority owner,” she said. The result was a brand that felt “super curated and tight” — an intentional strategy to maintain clarity and control.The $1 billion sale to E.l.f. Beauty was not a quick decision. Bieber was deliberate about finding a partner that respected Rhode’s DNA. “Rhode is like my baby; I'm so precious about it. The idea of ever even considering [a sale] was a very big deal to me.” Bieber underscores the importance of personal connection and integrity in building a brand that resonates. “I am Rhode and Rhode is me,” she said, explaining that the brand’s tone, aesthetic and communication all reflect her own sensibilities. “That’s why I always say, Rhode is my world. It doesn't feel like a job to me.” Rhode is a long game. “I really do see us being a legacy brand,” Bieber said. “Rhode’s going to go down as one of the greats.” Her goal is to build something that endures, rooted in authenticity and longevity rather than trend-chasing. “It’s not just about the product, it’s the whole entire world of Rhode."Additional Resources:The Business of Beauty Global Forum: Hailey Bieber Is Just Getting Started | BoFE.l.f. Beauty Acquires Hailey Bieber’s Rhode Skin for $1 Billion | BoF Hosted on Acast. See acast.com/privacy for more information.

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• Is Nike Finally Winning With Women?

  Nike has been synonymous with sports for decades, but that cultural and commercial cachet has mostly been driven by male athletes like Michael Jordan and Tiger Woods (Serena Williams being a prominent exception). As a result, despite substantial sales, Nike historically struggled to resonate authentically with women, and has at times faced pointed criticism from female athletes, employees and consumers. That appears to be changing. Nike’s “So Win” campaign, which launched with the brand’s first Super Bowl ad in decades, centres entirely on female athletes. A’ja Wilson’s sneaker release was a smash, and a new brand with Kim Kardashian’s Skims will be out soon. The head of Nike Women’s now leads the entire Nike brand. Key Insights: Nike’s current momentum comes after past attempts to boost its women’s business, including a failed 2005 campaign involving catalogs and dedicated stores. Defections by prominent female athletes to rivals, and media investigations into gender equity issues prompted Nike to rethink its approach starting about five years ago. Sheena explains, "They started a think tank with women athletes and women consumers, and what they heard was that women wanted more from the company. This marked the beginning of initiatives driven by women's opinions and taking more women into leadership roles to guide efforts that would genuinely resonate with women." Featuring her first signature shoe, the Nike A'One, WNBA star A’ja Wilson’s campaign was the latest and biggest in a string of successful marketing and product initiatives targeting women, including maternity lines, leak-proof activewear, and technical collaborations like supporting Kenyan runner Faith Kipyegon’s quest to break the four-minute mile. Sheena emphasises, "Nike’s investing end-to-end. They're not just investing in her wearing the logo at a race someday—they're actually supporting her personal goals."The recent appointment of Amy Montagne as Nike’s first female brand president symbolises substantial internal change. Sheena highlights, "Having a woman lead as Nike brand president is another way to activate that lever and get after women's." But consistency remains crucial for lasting success. Sheena stresses, “They've taken their swing before, but it's like the follow-through that counts. Consistency will be the most important thing. If they don’t keep doing all the right things, it could easily shift back.”Additional Resources:Why Women’s Basketball Stars Are Finally Getting Big Sneaker Deals | BoF Nike Forms New Team for Secretive Brand With Kim Kardashian | BoF Is Nike Finally Winning With Women? | BoF Hosted on Acast. See acast.com/privacy for more information.

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• Lessons in World-Building: How Emily Oberg Created Sporty & Rich

  Emily grew up far away from the fashion world in Calgary, Canada. After moving to New York for a role at the media company Complex, Oberg quickly built her profile as a tastemaker in the streetwear scene. But eventually, she got the entrepreneurial itch and leveraged her experience to turn Sporty & Rich, which started as a mood board on Instagram, into a multi-million-dollar brand with a dedicated community following."I think people want to be part of anything that's aspirational. Our sweatshirts are $150, it's not like we're selling a $10,000 handbag, but I think that shirt represents the lifestyle in the world that we have built."In conversation with BoF founder Imran Amed, Oberg reflects on her unconventional path, her strategic business choices, and the significance of creating an aspirational lifestyle through her brand.Key Insights: Sporty & Rich started as an Instagram mood board where Oberg began experimenting with different products like magazines, hats, and crewnecks to gauge interest for a brand. To scale without raising capital, Oberg turned to pre-orders. "If we didn't do pre-order, we couldn't have run a business," she says. “We did a crewneck and it made $600,000 in a day,” she says of a drop during the pandemic. “That was a big moment for us because we were like, 'Wow, we can really scale this with just one product.'”Oberg thrives in uncertainty and credits her ability to adapt as one key to her success. “I think I like risk because where it scares most people, it kind of excites me and it gives me that feeling of being uncomfortable – I really like that feeling,” she explains. Reflecting on her experience moving to LA and launching Sporty & Rich, she adds: “I was excited and I had a trust in myself that I would always figure it out. So I think when you have that, you know that you'll be okay and there's like nothing to really worry about.”Oberg is candid about her business blind spots.She surrounds herself with experts in operations, production, and finance to keep the business growing. “I don’t know how to do everything,” she says. “I just know what I like and what I want things to look like.” Sporty & Rich isn’t just about clothing. Their New York flagship includes a café, spa, — and soon, a gym — offering a full expression of the brand’s values. “It's not necessarily about the monetary things and money and the rich lifestyle. That's a part of it but I think there’s this greater sense of living a full life and I think anything that's aspirational people want to be part of,” she says. “Our sweatshirts are $150; it’s not like we’re selling a $10,000 handbag, but I think that shirt represents the lifestyle and the world that we’ve built.”Additional Resources:For Some Labels, Drops Are Still Working When Nothing Else Is | BoF How and When Brands Should Say 'I’m Sorry’ | BoF Can You Sell Sexual Wellness Without Sex? | BoF Hosted on Acast. See acast.com/privacy for more information.

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• Why Hailey Bieber Won the Celebrity Beauty Lottery

  Bieber, a celebrity and influential beauty figure with a strong Gen-Z following, launched Rhode just three years ago, quickly distinguishing the brand with minimalist product offerings closely tied to Bieber's personal aesthetic. She just sold to E.l.f. Beauty for $1 billion, even as rival celebrity beauty brands struggle to grow sales or attract buyers. Priya Rao, executive editor at The Business of Beauty at BoF, joins the Business of Fashion's Brian Baskin and Sheena Butler-Young to discuss how Rhode distinguished itself in a crowded celebrity beauty landscape, why E.l.f. Beauty saw strategic value in the acquisition, and what this landmark deal signals about the evolving beauty industry.Key Insights: Rhode’s clean, minimal brand aesthetic also mirrors e.l.f.’s broader mission, albeit at a different price point. "There’s something about Rhode’s branding that really makes sense with what E.l.f. already does. They both want to be accessible but aspirational," Rao notes. Like Rhode, "E.l.f. has always had a really good sense of what young people want," says Rao.The success of Rhode demonstrates that differentiated, clearly communicated value propositions continue to resonate strongly in the beauty market. "From the consumer side, this just shows that the right brand can find the right price at any time, as long as you're able to point and show you offer something different," explains Rao.Rao highlights how rare it is for a celebrity beauty brand to resonate beyond hype. "Most celebrity beauty brands are not succeeding at this level," she says. Rhode’s limited and focused product assortment have also contributed to its success. "She's not launching everything under the sun," says Rao. "She’s focusing on what she knows and what her audience connects with, and that’s why it’s working."The acquisition isn't just about short-term gain – E.l.f. sees lasting value. "This isn't a flash in the pan for them," says Rao. "They’re betting on Rhode being a long-term growth engine, not just a trendy pick-up."Additional Resources:E.l.f. Beauty Acquires Hailey Bieber’s Rhode Skin for $1 Billion | BoF Hosted on Acast. See acast.com/privacy for more information.

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• Giancarlo Giammetti on Securing Valentino’s Legacy

  Giancarlo Giammetti met Valentino Garavani by chance on July 31, 1960, setting in motion one of fashion’s most enduring — and most successful — creative partnerships. Together, they transformed Valentino into a global fashion powerhouse, celebrated for its elegance, craftsmanship, and cultural influence. In 2016, Giammetti co-founded the Fondazione Valentino Garavani e Giancarlo Giammetti to preserve their remarkable legacy, promote creativity, and foster charitable and educational initiatives.This week in Rome, BoF founder and CEO Imran Amed had the honour of sitting down with Mr Giammetti at PM23, the newly opened home of the foundation, located right next to the Valentino headquarters where their journey together first began. In this exclusive interview, Mr Giammetti reflects on the founding days of Valentino, the importance of protecting creativity in a fashion market that prioritises commercialisation, and why it is critical for the industry to support future generations of designers who are overlooked by a fashion system under pressure.“This continuous change of people, using people to cover jobs … it makes a big confusion. None of them really becomes a part of the legacy of the company. That’s what is a big problem today,” says Giammetti. Key Insights: Giammetti highlights the strength of his decades-long partnership with Valentino, emphasising their deep personal and professional connection. “We grew up related so much to each other that we cannot be separate,” he says. “Even when we had some rupture in our private life, after a while, we kept our family. That’s why we have such a big family – because all of our friends became friends of our family with us.”Giammetti expresses concern about the fashion industry's current state, noting the disconnect between creative integrity and business pressures. "Designers have become their own stars, they have their own style, and they don’t want to really become a witness to the work of the companies where they are hired to prolong life – they want to work for themselves," he says. "It’s not just negative, it’s offensive."Giammetti believes in preserving the heritage of fashion through new means. “I hate fashion museums. I think that to see all the mannequins like Madame Tussauds look really like wax things. I don’t think there is a life inside,” he says. “With digital work, you have to work with that to project your legacy in a different way.”Giving advice to aspiring creatives, Giammetti encourages young designers to remain true to themselves and avoid distractions. "Be yourself. Don't get distracted. You have to believe in yourself and do what you want."Additional Resources:‘Beauty Creates Beauty’: Valentino Founders Tease New Cultural Space in Rome | BoF Hosted on Acast. See acast.com/privacy for more information.

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