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		</div><p>Elf Beauty has acquired Hailey Bieber’s Rhode skincare brand in a one billion dollars (£740 million) deal, the companies said.</p>
<p>Bieber’s Rhode had 212 million dollars (£157 million) in net sales in the 12 months that ended on March 31.</p>
<p>The company’s products are only available online, but by the end of this year it plans to begin an in-store partnership with Sephora in North America and the UK.</p>
<p>Bieber, 28, a model and the wife of singer Justin Bieber, will be Rhode’s chief creative officer and head of innovation – and also a strategic adviser to the combined companies.</p>
<p>She launched Rhode, which is her middle name, as a skin care line in June 2022 and has since expanded the brand to include blushes, coloured lip balms and lip liners.</p>
<p>The brand is popular with young consumers and other fans of Bieber’s fresh-faced, casual aesthetic, which has emerged as an alternative to the ultra-glam, heavily made up looks popularised by Kim Kardashian a decade ago.</p>
<p>Under the terms of the agreement, E.l.f. will acquire Rhode for 600 million dollars in cash and 200 million dollars of newly issued shares of Elf Beauty common stock.</p>
<p>The deal also includes a potential payment of 200 million dollars based on the future growth of the brand over three years.</p>
<p>Shares in Elf jumped 12% before the opening bell on Thursday.</p>
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