Beauty announced that it has signed a $1 billion deal to acquire Hailey Bieber's skincare brand, Rhode. Per a press release, Bieber will step into the role of chief creative officer and head of innovation.

Model Hailey Bieber's makeup and skincare brand, Rhode, is being snapped up by Elf Beauty for about $1 billion, giving the budget cosmetic retailer access to a celebrity-endorsed product line that has become hugely popular among Gen Z and millennials.

Rhode, the lifestyle brand founded in 2022 by model and influencer Hailey Bieber, has agreed to be acquired by e.l.f. Beauty in a blockbuster $1 billion deal. e.l.f. announced the acquisition Wednesday,