Hailey Bieber's rhode brand sold to e.l.f. Beauty in $1B deal

• The brand accumulated $212 million in revenue in the 12 months ended March 31.
• It's sold on a direct-to-consumer basis but will soon be available in physical stores for the first time at Sephora locations.

Zoom in: e.l.f. said it would deliver $600 million in cash and $200 million in stock for rhode, plus $200 million in addition payouts subject to growth over the next three years.

• Bieber "will continue her role as Founder and additionally serve as rhode's Chief Creative Officer and Head of Innovation, overseeing creative, product innovation and marketing" and "will also act as a Strategic Advisor to the combined companies," according to e.l.f.

What they're saying: "We can't wait to bring rhode to more faces, places, and spaces," Bieber said in a statement. "From day one, my vision for rhode has been to make essential skin care and hybrid makeup you can use every day."