elf Beauty surges to 27th in daily rankings with 18.53 billion turnover as it acquires Hailey Biebers Rhode for 1 billion

On May 29, 2025, e.l.f. Beauty (ELF) saw a significant surge in trading volume, with a turnover of 18.53 billion, marking a 228.35% increase from the previous day. This substantial rise placed e.l.f. Beauty at the 27th position in the daily stock market rankings, reflecting a notable 23.58% increase in its stock price.

e.l.f. Beauty has announced a definitive agreement to acquire Rhode, a skincare brand founded by Hailey Bieber, for a total of $1 billion. The acquisition includes $600 million in cash and $200 million in newly issued shares of e.l.f. Beauty common stock. Additionally, there is a potential earnout of $200 million based on the future growth of the Rhode brand over the next three years.

Hailey Bieber, a prominent model and the wife of singer Justin Bieber, will continue to play a key role in the brand. She will serve as Rhode’s chief creative officer and head of innovation, as well as a strategic advisor to the combined companies. Bieber's involvement is expected to bring significant star power and creative direction to the brand, enhancing its appeal to consumers.

Rhode, launched in 2022, has already achieved impressive sales figures, with $212 million in net sales in the 12 months ending March 31. The brand's products are currently available online, but plans are in place to expand into physical retail stores. By the end of this year, Rhode aims to establish an in-store partnership with Sephora in North America and the U.K., further broadening its market reach.