Actress, singer and entrepreneur Selena Gomez won’t be selling her billion-dollar beauty brand anytime soon.
Gomez clarified in an interview this week that she will not be interested by selling her beauty brand Rare Beauty or taking it public. The company is According to reports price $2 billion.
“I really have no plans in this regard,” said Gomez TIME.
Gomez focuses totally on Rare Beauty’s product development and philanthropy and oversees the Rare Impact Fundwhich has raised $13 million since Gomez founded the corporate in 2020.
She told TIME that she could be working on products for Rare “over the next few years” and that she never wanted the corporate to be “just about making a lot of money and that’s it.”
Selena Gomez. Photo by Samir Hussein/WireImage
Gomez’s comments contradict a March report that Rare Beauty was in private talks a couple of possible sale or IPO.
Related: Is Selena Gomez the following beauty billionaire?
Rare is popular on social media and sells a variety of 30 USD and below Make-up, body care and brushes.
A liquid blush for $23 from the corporate quickly became known on TikTok in 2022 and brought 70 million dollars in sales this 12 months. The company’s bestsellers include tinted lip oil and matte lipstick, in keeping with Ranking on its website.
Rarely According to reports generate net sales of over $400 million from February 2023 to February 2024.
