e.l.f Beauty plans to acquire Hailey Bieber’s skincare brand Rhode for up to $1 billion, marking its largest acquisition yet, consisting of $800 million in cash and stock, plus $200 million based on performance. Bieber, who will serve as chief creative officer, aims to expand Rhode’s reach with innovative products and wider distribution. Despite e.l.f.’s strong quarterly performance, investor concerns about growth slowing and tariffs impacting profits loom over the acquisition, which seeks to tap into high-end skincare demand.
