Selena Gomez’s Rare Beauty debuts Rare Impact Fund
Selena Gomez is looking to do more than just launch a line of cosmetics with her Rare Beauty line.
In addition to launching her beauty brand, the singer is also formally announcing the launch of the Rare Impact Fun, which will be raising $100 million over the next 10 years to help address the gaps in mental health services for underserved communities.
“I’m so grateful to be surrounded by a team that’s helped make the Rare Impact Fund a reality,” Selena Gomez, founder of Rare Beauty said. “Since the brand’s inception, we wanted to find a way to give back to our community and further support people who needed access to mental health services, which have had a profound impact on my life. Rare Beauty is focused on helping people feel more connected to one another and less alone in the world. The Rare Impact Fund will make a direct impact on many lives and, ultimately, make a difference in the world. I’m proud of the work we've begun to do with our partners to offer these services to anyone who needs support.”
From the first Rare Beauty product sold onwards, 1% of all sales, as well as funds raised by partners, will be dedicated to the Rare Impact Fund, the company said.
“Our goal is ambitious. We want to raise $100 million for mental health in the next 10 years,” said Scott Friedman, CEO of Rare Beauty. “With the launch of the Rare Impact Fund, we will create one of the largest philanthropic efforts focused on mental health in the world. The funds will go toward increasing access to mental health services, particularly for underserved communities.”
Rare Beauty also has created the Rare Beauty Mental Health Council, which is composed of advisors from several leading universities, organizations and companies focused on mental health.
Members of the council include Dr. Marc Brackett of the Yale Center for Emotional Intelligence and author; Dr. Scott L. Rauch, MD, president and psychiatrist in chief for McLean Hospital; Dr. Jane Delgado of the National Alliance for Hispanic Health; Elyse Fox, founder and CEO of Sad Girls Club; Katrina Gay the national director of strategic partnerships at NAMI; Justin Tranter, singer, songwriter, and activist; Lindsay Peoples Wagner, editor in chief of Teen Vogue; Gretchen Rubin, author of The Happiness Project; Jennifer Cohen, the vice president of merchandising, makeup at Sephora; and Kit Hayes, global social impact at YouTube.
“I'm pleased to serve on the Rare Beauty Mental Health Council. There is a dire need for equitable access to mental health resources for children and adults. My hope is that these funds will help us get the necessary support to those who need them the most,” Marc Brackett said.
The council will look to guide the company’s strategy to ensure maximum impact, the company said.
“Both mental health and seeking support continue to be disproportionately stigmatized in underserved communities. By supporting community engagement and channeling funding into resource providers, we can have a substantial impact on the mental health of all communities,” Jane Delgado said.