💨 Abstract

e.l.f. Beauty acquired Hailey Bieber's rhode skincare brand for $1 billion. Rhode had $212 million in net sales in the past year and plans to expand into Sephora stores. Bieber will serve as rhode’s chief creative officer and a strategic advisor. The deal includes $600 million in cash, $200 million in shares, and a potential $200 million earnout based on future growth.

Courtesy: WTOP Staff