Actress and singer Selena Gomez has enlisted advisors to evaluate offers for her cosmetics brand, Rare Beauty, sources familiar with the matter disclosed.

Rare Beauty has engaged bankers to explore interest from potential investors or acquirers, according to insiders who requested anonymity discussing private matters. While discussions have taken place with potential suitors, Gomez herself has not been involved. Nevertheless, Gomez, aged 31, intends to maintain an active role in the company.

Representatives for Rare Beauty and the actress declined to provide comments. Rare Beauty has been identified by The Business of Fashion as one of the top acquisition targets for 2024, boasting a valuation of $2 billion. Launched in 2020 by Gomez and her team, Rare Beauty focuses on liquid cosmetics designed for easy application with minimal tools. The brand gained viral attention on TikTok, particularly for its blush products, and has seen success with other offerings such as highlighter compacts.

While some celebrities like Gomez, Rihanna, and Hailey Bieber have found success in the beauty industry, others, like Ariana Grande’s R.E.M. Beauty and Lady Gaga’s Haus Labs, have encountered challenges and undergone restructuring.

Gomez, known for her Disney Channel career before venturing into music, boasts a massive Instagram following of 430 million, making her one of the platform’s top 10 most-followed accounts. Leveraging her social media influence, Gomez has championed mental health awareness, promoted her various projects, and ventured into other business endeavors.

She co-founded Wondermind, a startup focused on mental health improvement, which garnered a valuation of $100 million in 2022. Additionally, Gomez has served as an executive producer for Netflix Inc. and Warner Bros. Discovery Inc. shows and has partnered with brands such as Puma SE.