e.l.f. Cosmetics Company Acquires Hailey Bieber’s Beauty Brand in $1 Billion Deal

The company announced the agreement to acquire Rhode on May 28, with Bieber saying it’s ‘a like-minded disruptor’ in the industry.

Beauty products by e.l.f. Cosmetics are seen on display at a Target store in Union Square in New York on April 4, 2025. Michael M. Santiago/Getty Images

Cosmetic company e.l.f. Beauty will acquire model Hailey Bieber’s skincare brand, Rhode, in a $1 billion acquisition deal.

In a May 28 news release, e.l.f.—which stands for eyes, lips, and face—announced that the two parties had signed a definitive agreement, and the deal is expected to close in the second quarter of the company’s fiscal year 2026, which ends on March 31, 2026.