Beauty has signed a definitive agreement to acquire rhode, a fast-growing, multi-category Los Angeles-based lifestyle beauty brand founded by Hailey Bieber known for its collection of skin-focused products.

Fields also noted that e.l.f. Beauty has a disciplined approach to M&A. The company acquired the skin-care brand Naturium in 2023 for $355 million, doubling e.l.f. Beauty’s pres

Hailey Bieber ’s beauty and skin-care brand Rhode has been acquired for $1 billion by Elf Beauty, pending approvals, marking one of the most high-profile beauty deals in recent years. Announced today, the acquisition comes just two months after it was reported in April that the brand hired JPMorgan Chase and Moelis to oversee the sale.

Celebrity founded beauty brands generated $1.1 billion in sales between November 2022 and November 2023, growing at a rate of 57.8% vastly outpacing the overall beauty market’s 11.1% growth,” wrote Nielsen IQ.

When the news hit on Wednesday that e.l.f Beauty (NYSE: ELF) was spending up to $1 billion to acquire a beauty company called Rhode, I quickly turned to the most authoritative expert I knew on the subject: my teenage daughter.

Hailey Bieber launched her skincare brand Rhode in 2022. Just three years later, it's been acquired by ELF Beauty for a billion dollars.

May has been a huge month for Hailey Bieber. After landing her first American Vogue cover, the 28-year-old model and new mom just sold her coveted skincare brand, Rhode, to e.l.f. cosmetics for a reported amount of $1 billion.