Selena Gomez Weighs Sale of Cosmetics Model Valued at $2 Billion

Actress and singer Selena Gomez has employed advisers to weigh provides for her cosmetics firm, Uncommon Magnificence, based on individuals aware of the matter.

Uncommon Magnificence introduced on the bankers to subject curiosity from companies trying to put money into or purchase the corporate, stated the individuals, who requested to not be recognized speaking about personal discussions. Bankers have met with potential suitors, however Gomez has not. Both approach, Gomez, 31, expects to stay concerned with the enterprise.

Representatives for Uncommon Magnificence and the actress, who stars within the Hulu hit Solely Murders within the Constructing, declined to remark.

The Enterprise of Trend, a web site that follows the business, named Uncommon Magnificence one of many “most sought-after M&A targets for 2024,” with a valuation of $2 billion. Gomez and her workforce launched Uncommon Magnificence in 2020, with a concentrate on liquid cosmetics that may very well be utilized with minimal instruments. The corporate’s blush turned a viral hit on TikTok the next yr. Different common merchandise embrace a highlighter compact. Uncommon Magnificence’s packaging is designed to be straightforward to make use of.

The sweetness area has been hit and miss for celebrities. Whereas Gomez, Rihanna and Hailey Bieber are among the many A-listers who struck gold within the business, others stumbled. Ariana Grande’s R.E.M. Magnificence and Woman Gaga’s Haus Labs have each undergone revamps.

Gomez starred within the Disney Channel hit Wizards of Waverly Place earlier than embarking on a singing profession. She has 430 million followers on Instagram, which ranks her among the many 10 most-followed accounts on the social-media website. She has used that viewers to advertise her initiatives, communicate out about psychological well being and profit different enterprise ventures.

She co-founded Wondermind, a startup targeted on bettering psychological well being that was valued at $100 million in 2022. She has served as government producer on exhibits for Netflix Inc. and Warner Bros. Discovery Inc. and fashioned partnerships with manufacturers comparable to Puma SE.

By Lucas Shaw, Ella Ceron and Crystal Tse

Study extra:

Magnificence’s Most Sought-After M&A Targets in 2024

Now that the market has stabilised, magnificence manufacturers of all styles and sizes are desperate to get their dues. The Enterprise of Magnificence identifies the highest targets of the yr together with Kosas, Summer time Fridays and Selena Gomez’s Uncommon Magnificence.