e.l.f. Beauty signed a definitive agreement to acquire rhode, the multi-category lifestyle beauty brand founded by Hailey Bieber.WHO: Launched by Hailey Bieber in 2022, rhode is a collection of curated skincare and hybrid makeup essentials with efficacious, intentional formulas. Beyond its product, rhode brings the brand to life in new and immersive ways, creating a world of rhode through high-impact campaigns, innovative in-real-life (IRL) activations, and close community engagement.e.l.f. Beauty has taken a disciplined approach in pursuing strategic extensions that leverage the company’s strengths, and has continued to thoughtfully diversify its business. e.l.f. Cosmetics, founded in 2004 to democratize access to the best of beauty for every eye, lip, and face, is the No. 1 brand in units across US cosmetics and No. 2 in dollar share. Five years ago, the company launched e.l.f. SKIN as its own brand to accelerate its potential in skincare. The acquisition of Naturium in 2023 then doubled the company’s skincare presence. The agreement to acquire rhode marks further diversification of e.l.f. Beauty’s business into the prestige beauty channel and into newer retail partners, like Sephora, the world’s leading global prestige retailer.WHY: This powerhouse alliance between e.l.f. Beauty and rhode is built on both brands' shared focus on disruption and product innovation, setting the stage for transformative global expansion.IN THEIR OWN WORDS: “e.l.f. Beauty found a like-minded disruptor in rhode,” said e.l.f. Chairman and CEO Tarang Amin. “Rhode further diversifies our portfolio with a fast-growing brand that makes the best of prestige accessible.