Selena Gomez, an American celebrity, is looking for suitable investors or corporations to infuse new funds into or acquire her start-up, Rare Beauty, according to Mint, citing Bloomberg.
According to the article, Gomez has hired experts to investigate potential offers for her cosmetics brand. The article also indicated that these bankers have begun conversations with interested parties, though Gomez has yet to meet with them.
Representatives for Rare Beauty and the actress have yet to comment on the development, according to the newspaper.
The Business of Fashion, which covers the fashion business, has already listed the company as "one of the most sought-after M&A targets for 2024," with a $2 billion valuation.
Founded in 2020 by Gomez and her crew, the start-up provides simply accessible cosmetic goods. Its blush went viral on TikTok the next year. Other popular items include a highlighter compact.
Celebrities in the US beauty industry have had mixed results. While Gomez, Rihanna, and Hailey Bieber achieved popularity, Ariana Grande's R.E.M. Beauty and Lady Gaga's Haus Labs underwent alterations. Gomez, best known for her Disney career and large Instagram following, uses her platform to promote mental health and launch new businesses.
She co-founded Wondermind, a $100 million mental health startup, and has executive produced shows for Netflix and Warner Bros. She also collaborates with brands such as Puma.
