Sephora North America CEO on her first meeting with Selena Gomez’s Rare Beauty brand

Fortune

Sephora North America CEO Artemis Patrick joined Fortune MPW last year and shared why she decided to bet on Selena Gomez's Rare Beauty brand. This year, Selena Gomez will join the Fortune MPW Summit in Washington, D.C.  The event takes place on October 13–15.

Transcript

00:00That is the secret sauce of Sephora, I'll tell you.

00:02So, you know, if you take a step back and, you know, when Sephora first came to America in 1998,

00:08similar to me, it was a bit of an outsider.

00:10And, you know, a lot of the big strategics didn't want to work with us.

00:13You know, there was the big department stores.

00:15And so just by sheer survival, we had to work with these little indie brands

00:20and start in the kitchen and we would start early and we'd hear their stories

00:23and we'd be in there trying the formulations and give feedback.

00:26And any brand that's ever worked with us, I see one in the audience here,

00:29knows that we really love getting in there and getting in the kitchen.

00:32And that allows us to build a brand together in many ways.

00:36So you think about, you take for granted brands like Too Faced, Urban Decay, Stila,

00:40you know, these brands that were, you know, not household names 28 years, 26 years ago.

00:46So I think that to your question, it's really about getting in early.

00:50You know, I see a CMO of Rare Beauty here.

00:53And I remember our very first meeting, it was Goop in a Jar and Selena Gomez.

00:56And it was like, whoa.

00:58And, you know, and her passion for the Rare Impact Fund and her belief in giving back.

01:03And so we were like, wow, great founder, great team, good product.

01:06Wow.

01:07And they give back as well to an authentic cause that's very, very real to the founder.

01:12You could not ask for anything more as a merchant.

01:14Now let's get in the kitchen and figure it out together.

01:16So let's get in the kitchen and get in the kitchen.

01:17So let's get in the kitchen.

01:18So let's get in the kitchen.

01:19So let's get in the kitchen.

01:20So let's get in the kitchen.

01:21So let's get in the kitchen.

01:22So let's get in the kitchen.

01:23So let's get in the kitchen.

01:24So let's get in the kitchen.

01:25So let's get in the kitchen.

01:26So let's get in the kitchen.

01:27So let's get in the kitchen.

01:28So let's get in the kitchen.

01:29So let's get in the kitchen.

01:30So let's get in the kitchen.

01:31So let's get in the kitchen.

01:32So let's get in the kitchen.

01:33So let's get in the kitchen.

01:34So let's get in the kitchen.

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