E.l.f. Beauty has acquired Hailey Bieber's Rhode for $1 billion, betting on its glossy skincare and makeup range amid celebrity beauty fatigue. Discover how this acquisition could influence the cosmetics market.

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.

E.l.f. Beauty acquired Hailey Bieber's Rhode brand for $800M, potentially reaching $1B. This marks E.l.f.'s largest acquisition and crucial as E.l.f. growth slows.