Hailey Bieber's makeup brand sold to e.l.f. in $1bn deal

Model Hailey Bieber's makeup brand Rhode has been acquired by e.l.f. Beauty in a $1 billion deal. Bieber co-founded the skincare line in 2022, seeing rapid growth and over $200 million in net sales. The brand's popularity on social media, including platforms like TikTok, has contributed to its success, with plans to expand its presence in stores like Sephora. This acquisition is set to propel the brand to further growth and global distribution opportunities.