At a time when many celebrity beauty ventures are faltering—such as Drew Barrymore’s Flower Beauty shutting down and Kate Moss’ Cosmoss entering liquidation—Selena Gomez’s Rare Beauty continues to defy the odds.
According to a new Fortune report, the brand is now valued at an estimated US$2.7 billion, marking a remarkable rise for a company that only launched in 2020. Gomez, who spoke at Fortune’s Most Powerful Women Summit on 20 October, attributed the success to her passion for creating meaningful, inclusive products and her commitment to the brand’s mission.
Rare Beauty’s growth has been driven by its viral product lineup, including the Soft Pinch Liquid Blush, which has become one of Sephora’s top-selling products globally. The brand’s expansion beyond makeup into body care and fragrance—most recently with a customizable eau de parfum and perfume primers—has further solidified its momentum.
Beyond commercial success, Rare Beauty’s philanthropic initiative, the Rare Impact Fund, has also set the brand apart. The program aims to raise $100 million over ten years to support mental health services for underserved communities across the U.S., reinforcing Gomez’s reputation as both a beauty entrepreneur and mental health advocate.
Despite speculation of a potential sale, Gomez dismissed the rumors, affirming her dedication to the brand. “I am not ready,” she said at the summit. “I love what we do and I do not want it to change.”
Since its debut, Rare Beauty has cultivated a devoted fanbase, boasting 8.4 million Instagram followers and 4.9 million on TikTok, reflecting the brand’s strong digital presence and cultural influence.
