Rare Beauty

Rare Beauty LLC
Rare Beauty
Company typePrivate
IndustryCosmetics
FoundedSeptember 3, 2020; 4 years ago (2020-09-03)
FounderSelena Gomez
Headquarters222 N Pacific Coast Hwy,
El Segundo, California
,
United States
Area served
Worldwide
Key people
  • Selena Gomez (Founder)
  • Scott Friedman (CEO)
  • Josh Gurrie (Creative Director)
  • Nikki Eslami
ProductsCosmetics
RevenueUS$ 300 million (2023)[1][2]
OwnerSelena Gomez
Websiterarebeauty.com

Rare Beauty is an American cosmetics company founded and owned by Selena Gomez. The brand was inspired by her third studio album, Rare (2020). Rare Beauty launched on September 3, 2020, exclusively through their official website and in Sephora stores in North America.[3] Since then, it has been made available to countries in Europe, Asia, and the Middle East. The company aims to "break down unrealistic standards of perfection" by promoting inclusivity and addressing mental health initiatives and education.[4][5] One percent of all sales are donated to the Rare Beauty Impact Fund, a part of their "commitment to give people access to the resources they need to support their mental health."[6]

The current valuation of Rare Beauty is over US$2 billion, as of 2024.[1][2] In 2023, the estimated revenue for the line reached US$300 million, up approximately 50 percent from 2022.[1][7] Rare Beauty crossed US$400 million in net sales in the 12 months ending in February 2024.[8] The brand is one of the best-selling brands at Sephora.[9] Additionally, Rare Beauty is the fastest-growing celebrity beauty brand on social media.[10]

  1. ^ a b c Rao, Priya (January 16, 2024). "Beauty's Most Sought-After M&A Targets in 2024". The Business of Fashion. Archived from the original on January 17, 2024. Retrieved January 19, 2024.
  2. ^ a b Shaw, Lucas; Tse, Crystal; Ceron, Ella (March 18, 2024). "Selena Gomez Weighs Sale of Cosmetics Brand Valued at $2 Billion". Bloomberg. Archived from the original on March 19, 2024. Retrieved March 19, 2024.
  3. ^ Robin, Maci (February 5, 2020). "Selena Gomez Is Launching a Makeup Brand at Sephora This Summer". Allure. Retrieved December 28, 2022.
  4. ^ Aziz, Afdhel. "Rare Beauty Launches Mental Health 101 Campaign To Help Gen-Z Get Access To Health For All". Forbes. Retrieved December 28, 2022.
  5. ^ "With Rare Beauty, Selena Gomez Is Making a Real Difference". Well+Good. April 23, 2022. Retrieved December 28, 2022.
  6. ^ "Rare Impact Fund". Rare Beauty. Retrieved December 28, 2022.
  7. ^ ""I tried Rare Beauty's new body care range – here's what I thought…"". Cosmopolitan. February 2, 2024. Retrieved February 14, 2024.
  8. ^ Rao, Priya (March 20, 2024). "Selena Gomez's Rare Beauty Exploring an IPO or Sale as Net Sales Cross $400 Million". The Business of Fashion. Retrieved March 21, 2024.
  9. ^ Ludmir, Clara (February 23, 2024). "Beyoncé Joins Rihanna, Selena Gomez And More In Beauty Retail With Cécred". Forbes. Archived from the original on March 4, 2024. Retrieved March 21, 2024.
  10. ^ Muhammad, Latifah (July 24, 2023). "Rare Beauty Takeover: Selena Gomez Has Reportedly Sold $70 Million in Blush". Billboard. Archived from the original on August 23, 2023. Retrieved September 11, 2023.