03.22.24
Selena Gomez is reportedly exploring the sale of Rare Beauty—Beauty Packaging’s most recent Beauty Company of the Year.
Sources report Gomez has hired Raymond James and Goldman Sachs investment banks. A formal process has not begun yet and potential options are still being evaluated. Once the business is ready, the company will consider an initial public offering.
In selling 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.
Despite Rare Beauty’s private financials, the company’s net sales for 2023 reached roughly $350 million, according to reports.
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.
Rare Beauty is Our Company of the Year: Excellence in Packaging
Sources report Gomez has hired Raymond James and Goldman Sachs investment banks. A formal process has not begun yet and potential options are still being evaluated. Once the business is ready, the company will consider an initial public offering.
In selling 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.
Despite Rare Beauty’s private financials, the company’s net sales for 2023 reached roughly $350 million, according to reports.
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.
Read Next
Rare Beauty Ticks All the Boxes for Today’s ConsumerRare Beauty is Our Company of the Year: Excellence in Packaging
