Share

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. 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. One percent of all sales are donated to the Rare Beauty Impact Fund.

The current valuation of Rare Beauty is over US$2 billion, as of 2024. In 2023, the estimated revenue for the line reached US$350 million, up approximately 50 percent from 2022. Rare Beauty crossed US$400 million in net sales in the 12 months ending in February 2024. The brand is one of the best-selling brands at Sephora, and the fastest-growing celebrity beauty brand on social media. Rare Beauty was named as Time’s most influential company of 2024. In September 2024, it was reported that Gomez had become a billionaire, with an estimated net worth of $1.3 billion; Bloomberg News estimated that roughly 81% of it originated from Rare Beauty. Bloomberg also stated that at age 32, she had become “one of the country’s youngest female self-made billionaires”.

Rare Beauty was founded on February 22, 2019, by American singer and actress Selena Gomez. On February 4, 2020, she formally announced her company on social media. In its accompanying video, Gomez revealed that she had been working on the cosmetics line for the last two years and that she had “found the right partners and the right team — we now have 28 amazing people that are working for the brand.” 

The current value of Rare Beauty is over US$2 billion, as of 2024. In 2023, the estimated revenue for the line reached US$300 million, up approximately 50 percent from 2022. Rare Beauty crossed US$400 million in net sales in the 12 months ending in February 2024.According to a Bloomberg report, the brand’s star product is the best-selling liquid blush, the product retails for US$23, which in 2022 sold over 3.1 million units. Rare Beauty has already sold US$70 million worth of liquid blush in 2022 alone, and expects to triple the company’s overall sales from last year. 

Additionally, Rare Beauty is the fastest-growing celebrity beauty brand on social media. The company gained 400,000 TikTok followers and more than 600,000 Instagram followers in February 2023. The brand has more than 6.4 million followers on Instagram, and more than 3.4 million on TikTok. In 2023, Rare Beauty launched its Soft Pinch Tinted Lip Oils, they sold out within 12 hours on RareBeauty.com, generating a wait-list of more than 20,000 customers.

As of 2023, Rare Beauty emerged as the top index brand on TikTok and Instagram, with a combined media impact value of US$313,198,657 on the two platforms alone.

 

Photo Credit: Rare Beauty