Reported 2 days ago
Hailey Bieber's makeup and skincare brand, Rhode, has been sold to Elf Beauty for approximately $1 billion, allowing Elf to enter the premium beauty market. The deal involves $800 million in cash and stock, with potential additional earnings of $200 million based on performance. Rhode, known for its popularity among Gen Z, will expand its distribution as Elf aims to revitalize its strategy amid weakened demand from mass market consumers.
Source: YAHOO