💨 Abstract

E.l.f. Beauty acquired Hailey Bieber's skincare and makeup brand, Rhode, for $1 billion. Rhode generated $212 million in its last fiscal year and will expand its retail presence with e.l.f.'s help. Bieber will remain as the creative director. E.l.f. faces tariff challenges from China but remains committed to its supply chain. The deal includes $800 million upfront and up to $200 million based on future performance.

Courtesy: WTOP Staff