Selena Gomez is committed to Rare Beauty, she said at the 2024 TIME100 Summit in New York City on Wednesday. Gomez launched the vegan and cruelty free makeup line in Sept. 2020, and it has since amassed a valuation of $2 billion, a figure that led to reports of a potential sale in Rare Beauty’s immediate future.
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00:00Hi, you both. Thank you so much for being here.
00:02Oh, I'm so happy to be here.
00:03Thanks for having us.
00:04Yes, so happy to talk about Rare,
00:06which if you are a person who knows anything
00:09about the beauty industry, you definitely know Rare.
00:12So Selena, let's start just kind of from the beginning.
00:16By the time you launched the company in 2020,
00:18you were already a globally recognized musical artist
00:23and actor.
00:24Why did you want to create a beauty company
00:26and what did you feel that you could add
00:28that would be different?
00:30I think I didn't want to really enter the cosmetics world
00:34without a mission.
00:37I don't know if I could feel like I was putting something
00:40out in the world that was going to be also giving
00:45to what we focus on at Rare Beauty with mental health.
00:49So to be honest, it was actually,
00:53it was a dream that kind of happened within this brand
00:56and on top of it, we were able to make
00:59hopefully decent products that people enjoy
01:01and that's just a bonus.
01:05Amazing.
01:06Elise, you have this incredible background
01:09as a corporate social impact and marketing expert.
01:13You even worked with First Lady Michelle Obama
01:15on her Let's Move initiative, which is super cool.
01:18What was it about Selena's vision for Rare
01:21that really attracted you?
01:23You know, I always joked that I didn't envision a career
01:27working for famous people.
01:29I've said this to Selena and the mission and the issue
01:33that Selena cared about was so both personal to me
01:38and also we were living in this moment
01:40where we had such an opportunity to bring the gift
01:44of someone like Selena, a new brand,
01:47and an issue that was coming to headlines
01:50and we had every tool in our toolbox to make a difference.
01:54And Selena and I met over Zoom,
01:57the very beginning of COVID, and one conversation with her
02:01and I saw the power and authenticity.
02:04I know Tori Burch was just speaking to this,
02:06but it's all about her authenticity
02:09and the power in her story and the gift
02:12that she's given to so many of us
02:14that I knew was something
02:16that could really make a difference and that was it.
02:18And at the end of that conversation, Selena said,
02:21so will you join me on this journey?
02:25Of course, I said, absolutely,
02:27and she pulled me to Los Angeles.
02:32Moved all the way across the country, yeah.
02:35Well, I really wanna hear a little bit more
02:37about the Rare Impact Fund and tell us a little bit
02:41about what makes you the most proud
02:44about the work that you've done so far.
02:47Personally, I think that we've been able to do something
02:50that, at least in cosmetics,
02:52I think we've done something that no one's ever done
02:55and that's really the community that we've built.
02:57And that is what makes me happy every night
03:01when I go to sleep because it's mission-driven.
03:04It's not just about what we're trying to portray.
03:08I'm so proud of the fact that we're actually doing things,
03:12changing things, having conversations,
03:15getting people to talk about the right things.
03:18I'm sure you could add to that, Elise,
03:20but I'm very proud, for sure.
03:22Yeah, Elise, maybe give us some of the impressive figures.
03:26Oh, yeah, sorry, I'm bad at that.
03:29Well, I think for the Rare Impact Fund in particular,
03:32which is a nonprofit organization,
03:36we've raised more than $13 million since we launched,
03:39which for an issue that's so incredibly underfunded,
03:43only about 1.3% of philanthropy dollars
03:47go towards mental health
03:49and 2% of global government funding
03:51for an issue that's so prevalent
03:53and touches so many lives, just doesn't make sense.
03:57And so we've raised funds
03:59and we currently support 26 organizations around the world
04:03that provide support to young people.
04:06And on average each year,
04:08we're reaching over a million young people,
04:10over 1,000 schools and educational systems,
04:15and about 700,000,
04:17we call them stakeholders,
04:18but they're really all the people
04:19that surround a young person's life.
04:21So really helping so that a young person
04:23has all these places to turn
04:24with people around them that understand,
04:26know what to look for, know how to bring them help.
04:29And that's been incredibly profound
04:32in the mental health and philanthropy space.
04:35And when we launched the brand,
04:37Selena made this really bold commitment.
04:38We had never sold one product.
04:40And she said, I want to donate 1% of sales,
04:44not profit, but sales to this issue
04:47as an ongoing revenue stream.
04:49And so for a brand that launched in a global pandemic,
04:52having never sold a lipstick yet,
04:54that commitment was built into the brand,
04:57which really showed that long-term commitment.
05:00And we've also been able to leverage that
05:05with the community that we've built
05:07to bring expert mental health resources
05:10to young people every day.
05:12Our social channels don't just talk about
05:15our new blush.
05:16They actually share expert-driven,
05:18evidence-based mental health content
05:20in a place where young people
05:22are looking for those resources.
05:24Thank you.
05:25Thank you.
05:26Thank you.
05:27Thank you.
05:28Thank you.
05:29Thank you.
05:30There's sort of an inherent tension
05:32in making and selling beauty products, right?
05:35Like for most of us, no matter how much makeup we apply
05:39or how skillfully we know how to apply it,
05:41we're never gonna look like the person
05:43in the advertisement who's selling that product to us.
05:46And I know it's obviously so important to both of you
05:48to uplift people and to help others
05:50feel good about themselves.
05:51So how do you think about those tensions
05:53in creating a beauty company?
05:56Personally, I've felt that there's a very unrealistic
06:03standard when it comes to the cosmetic world.
06:08And it makes me a little sad for my generation
06:13and for anyone to look at something
06:16that's probably touched up and made to look nice.
06:22I just wanted to break that down.
06:23I don't know how to do makeup and I have a makeup line.
06:26Like I'm terrible at it.
06:27And I just enjoy, I just, to me,
06:30I wanted to make products that people
06:32didn't feel like they had to look a certain way,
06:35didn't have to change the shape of their face.
06:37I wanted it to feel good when you're using my products.
06:41And all of our products are named based on
06:44uplifting things from our Find Comfort line
06:47to anything that comes to mind, body, and soul.
06:50We try to be very conscious of even naming the products
06:54to be reminders of joy or just finding yourself.
07:01So I genuinely just wanted to make makeup
07:04that was fun for people.
07:06I don't believe in having to look a certain way.
07:09I spent years trying to do that
07:11and it's a draining waste of time.
07:16Preach, yes.
07:17I mean, so much of this plays out on social media, right?
07:25Like you go into your phone
07:27and you sort of fall into this hole
07:28of seeing all these images.
07:30And I respect and appreciate so much
07:33that you're sort of trying to be a counter voice
07:36in that world, which is amazing.
07:38But what is your relationship
07:40with social media like these days?
07:42You are the most followed person on Instagram,
07:44the most followed woman on Instagram,
07:46which is such a platform for scrutiny.
07:49I just am wondering what is that like for you these days
07:53and how does it impact your mental health
07:54for better or worse?
07:56Well, I took four years off of Instagram
08:00and I let my team post for me for those years.
08:06I felt like it was the most rewarding gift I gave myself.
08:10I think people, especially young kids,
08:15you're sitting there so focused on what looks wonderful
08:20when everything that's meant to be wonderful to you
08:23is not from here.
08:24And I was more present.
08:26I was happier.
08:28I would actually get real phone calls
08:30about people telling me about their story
08:33and I could actually hear it instead of going,
08:35oh, I already know what you did today.
08:37It's like, it's more human.
08:40Like I think I don't, I just, I find it frustrating.
08:44And then I can get a little mouthy
08:46and I wanna defend people I love.
08:48And it's just, I think it's important to take breaks.
08:52So I try to, I don't really pay much attention.
08:56I'll just do things here and there.
08:59Elise, how about you?
09:00What does social media look like for you these days?
09:03So I would say social media for me
09:06is connected to work, of course.
09:09And I think we know that young people,
09:12particularly a lot of the people that we reach at the brand,
09:15a lot in that Gen Z population, they turn to social media
09:19and they also, in particular, are turning to social media
09:23for support around behavioral challenges.
09:27So whether they're following trained therapists
09:30on social media, we know that young people,
09:34there's actually a recent report that shared
09:36that young people want brands to be focusing
09:39on social issues and top among those issues is mental health.
09:42And so for us, while we recognize the negative impacts
09:46that social media can have, we're trying to counteract that
09:49and we're really leveraging social
09:51and the reach of Selena and the brand
09:53to be delivering substantial educational information.
09:57And so for us, that's success and that's leveraging social
10:02and our reach and our community for good
10:04because we know it's not going anywhere.
10:06And so as much as we can train ourselves to be boundaried
10:10and as a brand, we encourage digital detoxes,
10:13we also know that social media does have a place
10:17in people's lives and if used in the right way
10:21and with the right information,
10:22you actually really can be filling a gap.
10:26I know sometimes you get comments from people
10:28on the rare accounts and I imagine you get in your DMs
10:32and comments on your posts and everything.
10:35People who are going through struggle,
10:36like they come to you to talk about mental health.
10:39How do you feel is appropriate for you to respond
10:43in those moments?
10:44It seems like it's sort of a tough place
10:46to find yourself in because these aren't necessarily people
10:49that you know, you can't call them, make sure they're okay.
10:52What is your response to those moments?
10:55Well, I think first is we definitely aren't ones
10:58to diagnose or to say we know what's best.
11:01That's definitely not what we do.
11:04I think through what, well, then I'll let Elise,
11:07she sounds better than me.
11:10She looks better than me.
11:12Buzz, come on up.
11:14We, I think what, first of all, we make sure that our team,
11:18the team that manages the community and social,
11:20we, first of all, they have a direct line to all of us
11:23and they know the way that we respond is with crisis lines
11:30and where to call if you're in need of immediate crisis.
11:33If something feels really triggering,
11:36we will reach out to one of our mental health experts
11:38to connect them.
11:39We constantly reiterate, we are not a team
11:41of mental health experts ourselves,
11:44but we make sure that we go through comments
11:46so that we can support as much as we can.
11:50Believe it or not, a lot more of the comments have become,
11:54wow, like this was so informative to me,
11:58or you saved my life, or you turned my day around,
12:01or Selena sharing her story made me feel less alone.
12:04And really as the brand evolves,
12:06that's become the bulk of the comments that come in.
12:10And we've always said, if we can save one life,
12:13like we've made a difference.
12:14And we see that every day
12:17and what we've been able to build.
12:19And so certainly in the instances
12:21where something feels alarming,
12:22we'll make sure that we're providing
12:25appropriate information for where to call
12:28and articulating that we aren't the experts.
12:32And that's with the Rare Beauty account.
12:34I think mine is completely separate.
12:37I think that's where I want people to go for help,
12:41not me.
12:42I don't wanna-
12:43That's where you're resourced
12:45and you're prepared to respond.
12:46I'm glad we created a space for that.
12:50There's a moment in your documentary,
12:52My Mind and Me, which is really intimate,
12:55fascinating look at your mental health.
12:58Super brave, amazing.
13:01And I remember this moment where someone from your team
13:05was asking you, are you sure that you want to share
13:09your bipolar diagnosis publicly?
13:11Her point was sort of, you're really young,
13:14you have a whole lifetime
13:15in which you could decide to share this.
13:17But in that moment, you were very confident
13:19and you said, no, I'm ready to talk about it.
13:22How has that decision to share that you're living
13:25with bipolar changed things for you?
13:29It's actually a bit freeing
13:34once I was able to kind of get it out.
13:38Because for years I was so confused.
13:40My emotions were so intense and it was very confusing.
13:45And then I went into psychosis
13:47and all these confusing things were happening.
13:52And once I finally found the answer,
13:56it wasn't, oh, I have this problem.
13:59It actually made me feel better to know
14:02and understand what was happening in my mind.
14:04And I actually found it to be less scary.
14:09And words and titles, of course, can confuse people,
14:13but I'm proud to say I've been able to,
14:17lucky enough to have the right medications.
14:20And I believe in taking care of yourself.
14:23And I just wear it as a badge.
14:26I don't really, I'm not ashamed of it in any way.
14:30Yeah.
14:31Thank you.
14:31Thank you.
14:32Thank you.
14:33Thank you.
14:34Thank you.
14:35Thank you.
14:36Thank you.
14:37I think it makes a really big difference
14:39to be able to have someone to look to who is very open.
14:42And I appreciate that so much.
14:44That's the best part to me.
14:47I enjoy meeting people,
14:49but whenever anyone comes up to me and shares their story
14:53or feels that they can have someone to say, oh, me too,
14:58I feel that as well.
15:00It's a great feeling to be able to know
15:02you're making that kind of difference
15:04other than I loved your outfit.
15:06You know, it's very rewarding.
15:09Well, I know Rare is near and dear to both of you.
15:13There have been some rumors of buzzing
15:16about a potential sale or an IPO.
15:19What can you tell us about the future of Rare
15:21and how you envision your involvement?
15:24I don't think I'm going anywhere.
15:26I have been enjoying this a little too much.
15:28And I just wanna continue to build what we're doing.
15:33It means so much to me, especially the Impact Fund.
15:38We have so many fun things coming up,
15:41both with the fund and the brand.
15:43So I'm just looking forward to being a part of this.
15:48This is my pride and joy.
15:52So I don't know where we'll go, basically.
15:54Elise, what are your thoughts
15:55on the vision for the future of Rare?
15:58I'm just thrilled that we've been able to build a brand
16:03and we'll continue to build a brand
16:05that's not just known for its products,
16:06but that our community and in the marketplace,
16:10we are known for the mission that we've built
16:13and the issue that we focus on.
16:14And so my dream is whatever the future looks like,
16:18that we continue to be able to focus
16:21and be known for our mission
16:23and what really has set us aside.
16:25So I'm excited for that.
16:27Amazing.
16:28Let's leave off with a little bit of advice for the room,
16:31maybe, or taking a look at how you lead by example.
16:36What is the single most important thing
16:38that you each do for your mental health?
16:43I gotta do a lot for my mental health.
16:45One single thing I do,
16:49I think it's important that I balance things.
16:52I need time to be on my own.
16:55And I think that's always been something
16:57that has allowed me to recharge.
17:02I think before I associated being alone
17:04as a depressing feeling that I used to wake up feeling
17:09and now it's like I get to enjoy every day.
17:13So, yeah.
17:17I'd say for me, it's two things.
17:18It's surrounding myself with people who lift me up,
17:22always having the handful of people
17:24that I know I can turn to and love to be around.
17:28And then I think we've both learned
17:29there's so much power in our own stories.
17:33And once you start to share a tiny bit,
17:36you just realize how much less alone you are
17:39and how so many of us are more alike than we are different
17:42when you start to open up and share whatever story
17:45or whatever piece of you you wanna share.
17:48It's such a connection point
17:50and it creates strong relationships and support.
17:54Well, that makes me very excited
17:56for all the conversations that we're here to have today.
17:58Thank you both so much.
18:00This was wonderful.
18:00Thank you.
18:01Thank you.