Is Selena Gomez Selling Rare Beauty?
The pop star’s next launch may not be a new product.
Selena Gomez struck gold when she decided to expand her music and acting career by becoming a beauty brand founder. Gomez’s Rare Beauty has become a mainstay in makeup routines all over the world, positioning the pop star as one of the most successful celebrity-founded beauty brands. The company launched in 2020 and is most notable for its highly pigmented “Soft Pinch Liquid Blush” shades.
For the next iteration of the brand, it’s been reported by WWD that Gomez has hired Goldman Sachs and Raymond James Investment Bank to help explore potential sale options and weed through interest from investors. At this time, the brand has yet to start the official process of preparing the brand for a sale, but it is said to be considering a public offering.
Following these preparations, Gomez’s privately owned beauty empire could become a public company, allowing any business-savvy investor to purchase stock in the company. The beauty titan has been on an upward spiral as her sales have grown exponentially since its inception, with last year’s sales expecting to reach or exceed $300 million USD, according to Fast Company.
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Rare Beauty isn’t only beloved for its pigmented products, as Gomez has pledged to give proceeds from all cosmetic sales to the brand’s Rare Impact Fund. Gomez has been vocal about her personal mental health journey and how important it is to her to provide resources and services to those in need of help. The fund’s goal is to raise $100 million USD within the next ten years and to provide access to mental health services and education for young people around the world, according to its website.
The brand’s products can be purchased on its website or in Sephora stores.
For more beauty news, check out our coverage of Jackie Aina’s first fragrance.
