Selena Gomez, the multi-talented artist and businesswoman, has no plans to sell her booming beauty brand Rare Beauty anytime soon.
In a recent interview, Gomez made it clear that she has no intentions of selling or taking Rare Beauty public, despite the company’s impressive $2 billion valuation.
“I don’t have any plans on that, genuinely,” Gomez told TIME magazine.
Instead, Gomez is focusing on product development and philanthropy through Rare Beauty, particularly through the Rare Impact Fund, which has raised $13 million since the company’s inception in 2020.
Gomez expressed her commitment to the brand, stating that she will continue to work on creating new products for Rare Beauty for the foreseeable future. She emphasized that her goal for the company was never solely about making money.
Refuting earlier reports, Gomez clarified that Rare Beauty has no intentions of being sold or going public. The brand has garnered a significant following on social media and offers a range of affordable makeup, body care, and brushes, with popular products priced at $30 and under.
One of Rare Beauty’s standout products, a $23 liquid blush, went viral on TikTok in 2022, generating $70 million in revenue for the company that year. The brand’s bestsellers include tinted lip oil and matte lipstick, as documented on their website.
According to reports, Rare Beauty achieved over $400 million in net sales from February 2023 to February 2024, solidifying its status as a top player in the beauty industry.
Selena Gomez. Photo by Samir Hussein/WireImage
With Rare Beauty’s continued success and Gomez’s unwavering dedication, it’s clear that this beauty brand is here to stay.