Selena Gomez’s makeup brand, Rare Beauty, has achieved a remarkable milestone in just five years since its launch. Renowned as one of the most influential music artists worldwide, Gomez has leveraged her massive social media following, which exceeds 429 million on Instagram, to propel her entrepreneurial endeavors, including Rare Beauty.
Following in the footsteps of other successful artists-turned-entrepreneurs like Rihanna, Gomez ventured into the beauty industry with Rare Beauty. Launched in 2019 and formally announced by the “Calm Down” singer the following year, Rare Beauty quickly gained traction in the market.
the Chief Marketing Officer for Gomez’s company reported that Rare Beauty reached a valuation of $2 billion before its fifth anniversary. Conor Begley, co-founder of Tribe Dynamics and chief strategy officer at the parent company, CreatorIQ, noted that this achievement could represent one of the fastest trajectories from inception to a multi-billion dollar exit in the history of the beauty industry.
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With Rare Beauty’s exponential growth and valuation, Gomez stands on the brink of joining the billionaire’s club, following the footsteps of her close friend Taylor Swift. Swift recently made headlines for her impressive net worth, exceeding $1 billion, securing her a spot on the Forbes Billionaires’ List 2024.
Beyond her entrepreneurial success, Gomez continues to excel in her multifaceted career. Not only is she a singer and businesswoman, but she has also made strides in acting. Nominated for the Emmys as an Executive Producer for the series “Only Murders in the Building,” Gomez is set to captivate audiences once again in the musical crime comedy “Emilia Perez,” alongside stars like Karla Sofía Gascón, Zoe Saldaña, and Edgar Ramirez, slated for release on August 28, 2024.
In addition to her professional accomplishments, Gomez enjoys a fulfilling personal life, often sharing adorable moments with her partner, Benny Blanco, on social media. As Rare Beauty continues to flourish and Gomez’s star continues to rise, she remains a force to be reckoned with in both the entertainment and business worlds.
