Mad Over Marketing (M.O.M) reposted this
Selena Gomez is making an impact with Rare Beauty way beyond numbers. It might sound bizarre, but she didn’t start the company to sell beauty products. She started it to support people struggling with mental health. How? Her company has a philanthropic arm called the Rare Impact Fund , which has a goal of raising $100 million in the brand’s first 10 years. Till now she has raised $13 million through the fund, and has already given grants to 26 organisations working to improve mental health. In addition, she has also pledged 1% of all product sales to the Rare Impact Fund. Her social impact has led TIME magazine to list her brand under the 100 most influential companies this year. And she is doing all of this, while earning millions in sales. Her brand’s valuation? $2 Billion.