Cosmetics brand Rare Beauty was officially founded by Selena Gomez in 2020, and revenue in 2022 exceeded $500 million.

Sharing about her motivation for founding, Selena Gomez revealed that she suffered from bipolar disorder in 2020. She wishes to build a beauty brand with mental health at its core, creating a safe space for people enjoy beauty but don’t really need beauty. Everyone needs to accept their own unique beauty and unique version of themselves.

Currently, Rare Beauty’s makeup products include face makeup, lip makeup, eye makeup and makeup tools with prices ranging from 10-30 USD.

The names of the makeup products are also full of positive energy, such as the lip gloss colors Hope, Happy, Joy, etc., and the featured products include named “Positive Light Liquid Luminizer” and more.

Meanwhile, Selena also founded the non-profit organization Rare Impact Fund, which pledges to be deducted from 1% of Rare Beauty’s revenue, with the goal of raising 100 million USD in 10 years. The company’s official website has also announced a mental health helpline for people in crisis to seek help.

Joyce Kim, the brand’s CEO, was previously a senior executive at NYX, a subsidiary of L’Oréal Group. Piper Sandler, the third-party rating investment bank, believes that Rare Beauty has surpassed Maybelline, L’Oreal and FENTY BEAUTY founded by Rihanna and become the second most loved cosmetics brand after the 2000s (Gen Z) in the US.

Many experts say that if Rare Beauty is acquired, this would likely represent the fastest growing market share in beauty history. It will be a journey “from zero to billions” and create an unprecedented success.