I use the same advisory firm as you, my wife and daughter, who like Elf products, and they’re usually high end consumers.
Rhode is marketing with a vegan approach, products not tested on animals, something gaining in popularity.
Also, I found this, “In May 2025, Rhode announced it would be acquired by e.l.f. in a deal that consists of $800 million in cash and stock, with an additional $200 million based on future sales.”
So, Ms. Bieber will have some skin in the game, and keep influencing her followers. FWIW.