A press release announced that e.l.f. Beauty acquired rhode in a $1 billion deal, in which Bieber will serve as rhode's Chief Creative Officer and Head of Innovation. As the Head of Innovation, she will oversee "creative, product innovation and marketing," according to a press release. She'll also be a strategic advisor to e.l.f. Beauty.

The deal would mark a shift in strategy and expand into the prestige beauty market as e.l.f. faces weak demand from mass market customers.

E.L.F. Beauty acquired Mrs. Bieber’s cosmetics brand for $800 million in cash and stock upfront, with another $200 million contingent on future growth.