Good morning! Tate Tate Brazers is raped, Christine Lagarde plans to end her mandate as head of the European Central Bank, and sells Healy Bieber Road for a billion dollars.
Quartet beauty. It was a few years a few years for mergers-the conference monitors were waiting for sales of major brands such as Glossier and Rare Beauty. Those who have not yet been achieved, but the acquisition yesterday shook the category. Elf Beauty has announced the purchase of three -year -old Road from Healy Bieber for a billion dollars.
Rudd was launched in 2022, and soon a foothold of Gen Z was acquired through skin care, lipstick, and viral phone condition. The compact Bieber fans of 54 million people have helped Instagram alone (for beginners, which are incredibly common and married to pop star Justin Bieber) on Capult The Brand and Essenses and Glazes “Milky” to the top of her class after a crowded years to beautify celebrities.
Note ELF speed that Rod grew. “Hailey built a brand that moved from zero to $ 212 million in less than three years,” Elf CFO Mandy Fields Tell my colleague Sherrill Estrada. This number is outside the work of Rod directly to the business of consumers; It is scheduled to be launched in Sevora later this year.
ELF and Rhode are popular at Gen Z and Rishing Beauty Genal Alpha, with a pulse on culture at a relatively reasonable price. “Rudd is a brand where consumers will choose overnight, and wait 14 hours in a line in Los Angeles, not only for the product, but to buy in the full lifestyle of the brand,” Tarang Amin, CEO He said luck. “This is the thing we think has a real power: its instincts, aesthetic, its vision of this brand.” He added that Rudd diversified the ENF portfolio, a public company worth $ 1.3 billion.
Will the acquisition of Rudd opens the door of integration and purchase of other cosmetics that are waiting for the wings? Although Rudd is a less mature work than some of the other big names there – which makes it easy to find a buyer – the industry was strengthening the news yesterday and will monitor the melting of the ice.
Emma Hinchelv
whatever.Henchev@Fortune.com
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This story was originally shown on Fortune.com
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