e.l.f. Beauty Takes Over Hailey Bieber’s Skincare Line in Major Billion-Dollar Agreement

e.l.f. Beauty has seen a significant 8% rise in its shares after announcing the acquisition of Hailey Bieber’s skincare brand, rhode, for $1 billion. This move is strategic for e.l.f., aiming to revitalize its sales, which have recently slowed. rhode’s rapid growth, particularly among Gen Z, is shown by its $212 million in net sales over the last year and popular products like its viral lip balm.

Despite e.l.f.’s recent 4% year-over-year sales increase amid slowing beauty demand and rising costs due to tariffs and inflation, the company remains on a growth trajectory, reporting its 25th consecutive quarter of growth. This expansion into the celebrity beauty brand space could enhance e.l.f.’s appeal to younger audiences and maintain its market momentum against competitors like Estée Lauder, which has faced a 10% sales slump.