Celebrity beauty is back. Elf Beauty has agreed to buy Hailey Bieber’s Rhode, with its trademark look of glossy, dewy skin, for US$1 billion ($1.2 billion).

As celebrity brands boom, Hailey Bieber’s rhode announced it will be acquired by e.l.f. Beauty for as much as $1 billion. The consideration consists of $800 million at closing in a mix of cash and equity, along with an earn out of up to $200 million based on the growth metrics over the next three years.

From TikTok unboxings to luxury bag charms, Labubu has gone from underground art toy to full-blown global obsession.