Rhode, the lifestyle brand founded in 2022 by model and influencer Hailey Bieber, has agreed to be acquired by e.l.f. Beauty in a blockbuster $1 billion deal.

Model Hailey Bieber's makeup and skincare brand, Rhode, is being snapped up by Elf Beauty for about $1 billion, giving the budget cosmetic retailer access to a celebrity-endorsed product line that has become hugely popular among Gen Z and millennials.

Hailey Bieber's skincare label Rhode has been acquired by Elf Beauty in a deal worth millions, marking a bold move to tap into her powerful Gen Alpha fanbase.