Hailey Bieber sells makeup brand Rhode to Elf Beauty in $1B deal
1. Elf Beauty acquires Rhode for about $1 billion, integrating celebrity appeal. 2. Deal includes $800M upfront and $200M contingent on performance. 3. Elf aims to expand into prestige market amid weak mass market demand. 4. Rhode's popularity among Gen Z may bolster Elf's growth trajectory. 5. Transaction expected to close in fiscal Q2 2026 amidst tariff uncertainties.