Selena Gomez's Rare Beauty Announces $100M Rare Impact Fund to Connect Underserved Communities with Access to Mental Health Services
One percent of Rare Beauty sales and partner donations to form one of the largest known funds in support of mental health from a corporate entity
Jul 22, 2020, 14:10 ET
LOS ANGELES, July 22, 2020 /PRNewswire/ -- Rare Beauty, the mission-driven beauty brand founded by Selena Gomez, today announced the launch of the Rare Impact Fund, which will raise $100 million over the next 10 years to help address the gaps in mental health services for underserved communities. From the first Rare Beauty product sold onward, one percent of all sales, as well as funds raised from partners, will be dedicated to the Rare Impact Fund that aims to increase access to mental health resources. Mental illness impacts one in five adults in the United States each year. The Rare Impact Fund will join with partners to mobilize its ambitious goal of raising $100 million in funding and become one of the largest known funds in support of mental health from a corporate entity.
"I'm so grateful to be surrounded by a team that's helped make the Rare Impact Fund a reality," said Selena Gomez, founder of Rare Beauty. "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."
With the Rare Impact Fund, Rare Beauty is cultivating partnerships with leading foundations, nonprofit organizations, and companies to make a measurable impact on mental health by helping people feel more authentically connected by providing the tools, resources, and mutual support they need to thrive.
"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 has also created the Rare Beauty Mental Health Council, composed of expert advisors from leading universities, organizations, and companies focused on mental health. The Council will guide the company's strategy to ensure maximum impact. Members of the Rare Beauty Mental Health Council include Dr. Marc Brackett of the Yale Center for Emotional Intelligence and author of the book, Permission to Feel, 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, National Director, Strategic Partnerships of NAMI, Justin Tranter, singer, songwriter, and activist, Lindsay Peoples Wagner, Editor in Chief of Teen Vogue, Gretchen Rubin, bestselling author of The Happiness Project, Jennifer Cohen, VP Merchandising, Makeup at Sephora, and Kit Hayes, Global Social Impact at YouTube with more members to be announced.
"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," said Dr. Brackett.
"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," said Dr. Jane Delgado, president and CEO of the National Alliance for Hispanic Health.
ABOUT RARE BEAUTY
Founder Selena Gomez believes everyone is unique and rare. But today, too many people feel trapped by unrealistic expectations of beauty that are impossible to achieve. Rare Beauty is about celebrating who you are and what makes you different. We aim to use makeup to shape positive conversations around beauty, self-acceptance, and mental health. Not only do we want everyone to feel good about themselves, we want to help them feel more authentically connected to one another and feel less alone in this world. Rare Beauty will be available only at Sephora North America (US, Canada, Mexico), Sephora inside JCPenney, and RareBeauty.com. Additional international expansion to begin 2021.
ABOUT THE RARE IMPACT FUND
The Rare Impact Fund is a fiscally sponsored project of the Hopewell Fund, a 501(c)(3) public charity. The Rare Impact Fund was launched to tackle the epidemic of chronic loneliness by helping people get access to mental health services and support, with a focus on underserved communities. With Rare Impact, Rare Beauty plans to provide the Rare community with tools, resources, support, and opportunities to connect. Potential donor partners interested in contributing to the Rare Impact Fund can contact us at [email protected]
SOURCE Rare Beauty
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