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Actor, singer, and entrepreneur Selena Gomez is not promoting her multi-billion greenback magnificence model any time quickly.
Gomez clarified in an interview this week that she was not excited about promoting her magnificence model, Uncommon Magnificence, or taking it public. The corporate is reportedly price $2 billion.
“I haven’t got any plans on that, genuinely,” Gomez instructed TIME.
Gomez primarily focuses on Uncommon Magnificence’s product growth and philanthropy, overseeing the Rare Impact Fund, which has raised $13 million since Gomez based the corporate in 2020.
She instructed TIME that she will probably be engaged on merchandise for Uncommon “for the subsequent few years” and that she by no means wished the corporate “to be about making some huge cash and that is it.”
Selena Gomez. Photograph by Samir Hussein/WireImage
Gomez’s remarks refute a March report that Uncommon Magnificence was in personal talks a few attainable sale or IPO.
Associated: Is Selena Gomez the Next Beauty Billionaire?
Uncommon is standard on social media and sells an array of $30 and under make-up, physique care, and brushes.
A $23 liquid blush from the corporate went viral on TikTok in 2022 and introduced in $70 million in revenue that yr. The corporate’s bestsellers embrace tinted lip oil and matte lipstick, per a ranking on its web site.
Uncommon reportedly hit greater than $400 million in internet gross sales from February 2023 to February 2024.
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