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Do you know what Rare Beauty’s best-selling product is? How did it break sales records?
Since its official debut on September 3, 2020, Rare Beauty, founded by American singer and actress Selena Gomez, has quickly become a hot topic in the makeup industry. The brand's purpose is to "shatter unrealistic standards of perfection" and is committed to expanding inclusivity and promoting mental health awareness. According to the latest report, Rare Beauty is currently valued at over $2 billion, with revenue in 2023 reaching approximately $350 million, a 50% increase from 2022.
Ace product: the success of liquid blush
Among its many star products, Rare Beauty's liquid blush is undoubtedly one of the brand's representatives. The product, which retails for $23, sold over 3.1 million units in 2022, earning $70 million in revenue that year alone. The speaker believes that the success of this product is not only due to its rich and long-lasting colors, but also because of its ultra-high color saturation and ease of use, which have attracted the attention of a large number of consumers.
Many consumers raved about this liquid blush, with some even saying it was "too pigmented," and it has undoubtedly become a trend.
The power of social media
In the digital world, Rare Beauty shows incredible growth potential. According to reports, the brand's influence on TikTok and Instagram continues to rise. In February 2023 alone, the brand added 400,000 TikTok followers and 600,000 Instagram followers. As of now, it has reached 6.4 million followers on Instagram. 3.4 million followers. This influence plays a key role in launching new products:
Rare Beauty's "Soft Blush" collection sold out within 12 hours of its launch, attracting a waiting list of more than 20,000.
Commitment to Mental Health
Rare Beauty not only focuses on products, but also supports mental health through the Rare Impact Foundation. Gomez founded the foundation in 2020 and pledged to raise $100 million over the next decade to help young people access mental health resources. For every product sold, the brand will allocate a portion of the proceeds to this fund to support various mental health education and services.
Future Outlook
Looking ahead to 2024, Rare Beauty's growth potential is undoubtedly still strong. Time magazine named it the most influential company in 2024, showing the brand's rising status in the industry. While Gomez became a billionaire, Rare Beauty also became a globally recognized cosmetics brand.
The brand has become a fast-growing celebrity beauty brand with impressive social media presence.
Conclusion
Through a series of products that are consistent with values and commitment to social responsibility, Rare Beauty has not only achieved outstanding sales results in numbers, but also set a new standard in the cosmetics industry. Currently, Rare Beauty continues to launch innovative products and drive the brand forward. Have you ever considered the profound meaning conveyed by such a brand?
