Selena Gomez Celebrates The Launch Of Rare Beauty's Soft Pinch Tinted Lip Oil Collection
Selena Gomez celebrates the launch of Rare Beauty's Soft Pinch Tinted Lip Oil Collection on March 29, 2023 in New York City.
(Photo : Getty Images/Cindy Ord)

Selena Gomez has dismissed speculation that she plans to sell her successful cosmetics brand, Rare Beauty. 

In an interview with Time published Wednesday, the 31-year-old singer and actress clarified that she has no intentions of selling the company and intends to remain actively involved in its development.

"I don't have any plans on that, genuinely," Gomez said.

She emphasized her commitment to Rare Beauty, indicating she will be working on new products for the next few years.

Gomez acknowledged the challenges of managing a business, especially one recognized as one of Time100's Most Influential Companies. 

Despite the potential stress, she prefers to focus on the impact her brand can make rather than the financial aspects. 

"I have this weird thing in my head where if I focus on the numbers, I'll lose whatever it is that made Rare Beauty Rare Beauty," she explained. "I never wanted it to be about making a lot of money and that's it."

Rare Beauty, valued at $2 billion, has not only made a mark in the cosmetics industry but also through its philanthropic efforts. 

The brand's Rare Impact Fund aims to raise $100 million within its first decade, with $13 million already raised. The fund dedicates 1% of all sales to making mental health resources accessible.

This isn't the first time the singer has spoken out about rumors concerning Rare Beauty.

At the Time100 Summit in April, Gomez addressed rumors about her possible departure from the company. 

"I don't think I'm going anywhere. I am enjoying this a little too much," she said during an onstage Q&A session as she described Rare Beauty as her "pride and joy."

Gomez's approach to product development is deliberate and thoughtful. 

"As far as the products go, I think the possibilities are endless," she noted in a video for Time100. 

Gomez remains firm in her mission to use her platform for good, balancing business success with social impact. 

The "Single Soon" singer founded Rare Beauty in 2019,  and it has since become a top seller at Sephora. 

Rare Beauty's combination of quality products and a strong philanthropic mission continues to resonate with consumers and contribute to its growing influence in the beauty industry.