Selena Gomez is reportedly exploring the sale of Rare Beauty. Gomez employed Raymond James and Goldman Sachs funding banks to deal with any deal, in response to sources. A proper course of has not begun but and potential choices are nonetheless being evaluated. Experts put Rare Beauty’s worth anyplace between $1 and $2 billion.Whatever transfer she makes with Rare Beauty, Gomez positions herself as the following superstar magnificence billionaire. Although Gomez’s stake in Rare Beauty is unknown since there isn’t any mum or dad firm or company accomplice, officers estimate Gomez will obtain a nine-figure buyout.Industry sources estimate Rare Beauty’s gross sales have been $350 million final yr. Rare Beauty debuted in 2020. Gomez will be the face of Rare Beauty, however she’s obtained loads of assist. CEO Scott Friedman, COO Mehdi Mehdi, and chief product officer Joyce Kim have been with Nyx Cosmetics, which bought to L’Oréal for $500 million in 2014.At the tip of 2023, Rare Beauty raised roughly $12 million for psychological well being causes by means of its Rare Impact Fund. One p.c of annual gross sales go in the direction of the fund, and it has partnered with 25 international organizations.Last December, Rare Beauty expanded into scented physique care together with her Find Comfort assortment. It was the model’s and Gomez’s first enterprise past shade cosmetics.
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