Model Hailey Bieber's Rhode beauty brand is set to be acquired by cosmetics giant E.l.f. in a $1 billion deal. CBS News correspondent Carter Evans has more.

Los Angeles

E.l.f. Beauty, a major cosmetics company, has acquired the beauty brand Rhode, founded by model Hailey Bieber, in a deal valued at up to $1 billion. Rhode, launched in 2022 with a limited product range, has achieved over $212 million in sales primarily through direct-to-consumer channels and social media influence.

E.l.f. Beauty's CEO described Bieber as an industry disruptor and plans to expand Rhode's offerings, aiming to enter the higher-end beauty market. This acquisition follows a trend of celebrity-founded beauty brands gaining significant market value, alongside brands like Selena Gomez's Rare Beauty and Rihanna's Fenty Beauty.

E.l.f. Beauty calls Hailey Bieber an industry disruptor amid Rhode sale

Model Haley Bieber joins the ranks of billion-dollar beauty brands. Cosmetics giant, Elf Beauty, acquired her makeup and skincare brand, RODE. The deal estimated to be worth up to $1 billion. CBS News correspondent Carter Evans joins us now to break down the facts and figures of this huge sale. Carter, what makes this acquisition so notable? I mean, first of all, it's just a ton of money. Haley Bieber launched RODE in 2022, and they only had a couple of products in her line. And it became wildly popular with Instagram and TikTok influencers. So in just three years, she's netted more than $212 million in sales. Now, RODE still only has about 10 products, and it's exclusively direct-to-consumer. And that appealed to Elf's CEO, who called Bieber an industry disruptor. Now, Elf brings a lot to the table. They're in practically every single drugstore around the country. And this is a company that's constantly pushing out new items to keep up with quickly evolving trends. So now, with the star power of Haley Bieber and plans to majorly expand RODE's product line, Elf is making a play into the higher-end realm of the beauty industry with a powerhouse founder as the face. And for that, Haley Bieber will get almost a billion dollars. She is now far more wealthy than her husband, Justin Bieber, who recently, by the way, sold his music catalog for around $200 million. Yeah, he needed the cash and maybe not so much anymore, Carter. But it seems like we've been hearing a lot about these billion-dollar beauty brands from celebrities lately. She's not alone. Yeah, you know, it feels like it all started with Elizabeth Taylor's White Diamonds perfume. You remember that? Oh, yes. That brand outlived her, and it's still available. So now Haley Bieber is joining the growing list of celebrities that turned into beauty magnets. Now, Selena Gomez launched her line. It's called Rare Beauty, and that was in 2020. And get this, it's now estimated to be worth $2 billion. That's billion with a B. And then there's Rihanna. Now, Forbes reported that the bulk of her wealth comes not from her music, but from her Fenty Beauty skincare and makeup line. It's worth nearly $3 billion now. Lots of money. Lots of money. Thank you to our CBS News correspondent and celebrity beauty brand expert, Carter Evans. Always good to see you.

The U.N. General Assembly brought high-level officials together to promote a two-state solution to the decades-old Israel-Palestinian conflict. Israel and the United States are boycotting the two-day meeting, co-chaired by the foreign ministers of France and Saudi Arabia

New York

Middle East Conflict

Israel and U.S. boycott UN Summit for two-state solution

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Washington

Global Tariffs

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London

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Kyiv

Ukraine Invasion

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Jerusalem

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Bogotá

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Moscow

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Zaporizhzhia

Russian air strikes hit a prison in Ukraine's Zaporizhzhia, 17 killed

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Traverse City

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Bangkok

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Kuala Lumpur

Thailand and Cambodia agree to ceasefire

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Stockholm

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Riedlingen

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Athens

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Michigan officials say they will file terrorism charges and 11 charges of assault with intent to murder against the man who allegedly carried out a knife attack at a Walmart on Saturday. Lana Zak reports.

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FAA investigators are in Denver after passengers and crew aboard an American Airlines flight were forced to evacuate when a tire blew during takeoff and the plane's rapid deceleration caused a brake fire, the airline said. Elise Preston reports.

Denver

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President Trump announced Sunday that the U.S. and European Union have come to a trade agreement after high-stakes meetings in Scotland. Weijia Jiang reports.

Edinburgh

Trump announces trade agreement with the European Union

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Tel Aviv-Yafo

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U.S. President Donald Trump played golf Saturday at his course on Scotland's coast while protesters around the country took to the streets to decry his visit and accuse United Kingdom leaders of pandering to the American president.

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The Israeli military said Saturday that it will resume aid airdrops into Gaza and open humanitarian corridors for United Nations convoys amid increased international pressure and accounts of starvation-related deaths in the territory.