03.23.24
Selena Gomez is reportedly exploring the sale of Rare Beauty. Gomez hired Raymond James and Goldman Sachs investment banks to handle any deal, according to sources. A formal process has not begun yet and potential options are still being evaluated. Experts put Rare Beauty's value anywhere between $1 and $2 billion.
Whatever move she makes with Rare Beauty, Gomez positions herself as the next celebrity beauty billionaire. Although Gomez’s stake in Rare Beauty is unknown since there is no parent company or corporate partner, officials estimate Gomez will receive a nine-figure buyout.
Industry sources estimate Rare Beauty's sales were $350 million last year. Rare Beauty debuted in 2020. Gomez may be the face of Rare Beauty, but she's got plenty of help. CEO Scott Friedman, COO Mehdi Mehdi, and chief product officer Joyce Kim were with Nyx Cosmetics, which sold to L'Oréal for $500 million in 2014.
At the end of 2023, Rare Beauty raised roughly $12 million for mental health causes through its Rare Impact Fund. One percent of annual sales go towards the fund, and it has partnered with 25 global organizations.
Last December, Rare Beauty expanded into scented body care with her Find Comfort collection. It was the brand’s and Gomez’s first venture beyond color cosmetics.
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Whatever move she makes with Rare Beauty, Gomez positions herself as the next celebrity beauty billionaire. Although Gomez’s stake in Rare Beauty is unknown since there is no parent company or corporate partner, officials estimate Gomez will receive a nine-figure buyout.
Industry sources estimate Rare Beauty's sales were $350 million last year. Rare Beauty debuted in 2020. Gomez may be the face of Rare Beauty, but she's got plenty of help. CEO Scott Friedman, COO Mehdi Mehdi, and chief product officer Joyce Kim were with Nyx Cosmetics, which sold to L'Oréal for $500 million in 2014.
At the end of 2023, Rare Beauty raised roughly $12 million for mental health causes through its Rare Impact Fund. One percent of annual sales go towards the fund, and it has partnered with 25 global organizations.
Last December, Rare Beauty expanded into scented body care with her Find Comfort collection. It was the brand’s and Gomez’s first venture beyond color cosmetics.
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