American cosmetics company
Rare Beauty LLC |
| Rare Beauty |
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| Company type | Private |
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| Industry | Cosmetics |
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| Founded | February 22, 2019; 5 years ago (2019-02-22) |
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| Founder | Selena Gomez |
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| Headquarters | 222 N Pacific Coast Hwy, , United States |
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Area served | Worldwide |
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Key people |
- Selena Gomez (Founder & Chairwoman)
- Scott Friedman (CEO)
- Josh Gurrie (Creative Director)
|
|---|
| Products | Cosmetics |
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| Owner | Selena Gomez |
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| Website | rarebeauty.com |
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Rare Beauty is an American makeup and cosmetics company founded and owned by Selena Gomez. Inspired by her third studio album, Rare (2020), the company aims to "break down unrealistic standards of perfection" by promoting inclusivity and addressing mental health initiatives and education.[1][2]
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. 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."[4]
The current price of Rare Beauty is over US$2 billion, as of 2024.[5]
History
Rare Beauty was founded on February 22, 2019, by American singer and actress Selena Gomez.[6] On February 4, 2020, she formally announced her company on social media.[7] 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." On the new venture, Gomez explained that Rare Beauty would encompass an entire lifestyle and that it "isn’t about how other people see you — it’s about how you see yourself. I want us all to stop comparing ourselves to each other and to start embracing our uniqueness. You are not defined by a photo, a like, or a comment.”[8] In an interview with Allure, Gomez stated that "beauty doesn’t have to be defined by a like or a comment, or your body. We were always under the notion that this would also be about mental health and creating a safe place for people to connect."[9] She also emphasized that her "main purpose when I started Rare Beauty was to break down the unrealistic standards of beauty we see in society today," motivated by the "pressure on us to be “perfect.” [10]
In August 2020, Gomez revealed on Instagram that Rare Beauty would be launching on September 3 on its official website and in Sephora stores across North America.[11][12] Its original included 48 shades of foundation, matte lip creams, eyebrow definers, liquid blush, and lip balms.[13] The cruelty-free and vegan products were packaged with recyclable materials certified by the Forest Stewardship Council (FSC), and was printed with water-based ink.[14] As the company grew, Rare Beauty expanded its markets to the Middle East, Europe, and Southeast Asia.[15][16] In February 2022, the company launched in the United Kingdom exclusively through Space.NK.[17][18] Going viral on TikTok, the Rare Beauty blush has made a significant impact on the brands imaging, some even say the product is "too pigmented."[19]
Rare Impact Fund
As part of her commitment to mental health awareness and education, Gomez created the Rare Impact Fund to help "young people gain access to mental health resources" and is committed to raising US$100 million over the next ten years.[20] To achieve that goal, a percentage of all Rare Beauty sales, along with "philanthropic foundations, corporate partners, and individuals in our community" will be donated towards the fund.[21] In its first year, the non-profit affiliate provided $1.2 million in grants to eight mental health and education-focused organizations, including the Yale Center for Emotional Intelligence and Didi Hirsch Mental Health Services.[22] For Mental Health Awareness Month, Rare Beauty launched its first GoFundMe campaign and pledged to match $200,000 of donations. The company also launched an education and advocacy initiative called Mental Health 101, which is "dedicated to supporting mental health education and encouraging financial support for more mental health services in educational services."[23][24]
In honor of World Mental Health Day, Gomez announced that Sephora donated 100 Percent* of the sales of Rare Beauty by Selena Gomez products to the Rare Impact Foundation for Mental Health services within 24 hours.[25][26]
Inclusivity
Rare Beauty aims to be inclusive[27] by offering a diverse range of 48 foundation and concealer shades.[28] The packaging is also made to be easy to use by people with disabilities with a sphere shape at the top of the applicators which prove to be disability-friendly.[29][30]
Products
In December 2023, Rare Beauty launched The Find Comfort Body Collection includes four products: The Find Comfort Hydrating Body Lotion, Hydrating Hand Cream, Body & Hair Fragrance Mist and Stop & Soothe Aromatherapy Pen.[31]
Sales
The current price of Rare Beauty is over US$2 billion, as of 2024.[5] In 2023, the estimated retail sales of the brand amounted to US$600 million, and revenue for the line reached US$300 million, up approximately 50 percent from 2022.[5][32]
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.[33][34] 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.[33][34] Additionally, Rare Beauty is the fastest-growing celebrity beauty brand on social media.[34] The company gained 400,000 TikTok followers and more than 600,000 Instagram followers in February 2023.[34] The brand has more than 6.4 million followers on Instagram,[35] and more than 3.4 million on TikTok.[36]
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.[37]
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.[38]
