If you were ever looking for the perfect example of “stay low and build,” here it is.
Just last week the internet was in a frenzy about Forbes magazine crowning Kylie Jenner a self-made businesswoman, and that her eponymous beauty line, Kylie Cosmetics, was on its way to $1 billion.
Welp. You gotta be quicker than that because British makeup mogul Pat McGrath just swooped in and grabbed that title while no one was looking.
A $60 million investment by Eurazeo Brands for 5 to 8 percent stake in Pat McGrath Labs put the brand over the top, according to a report from Fashionista.
Kylie is still riding high at around $800 million, according to Forbes.
McGrath has been grinding it out in the beauty game for years and she has an A-list roster that runs a mile long, so it’s no surprise that she was able to secure this deal.
“It has always been my dream to create an iconic beauty brand that goes beyond the usual limitations, that lives outside the parameters of what is expected,” McGrath said in a statement, according to the site. “I am thrilled to be working with the unique and expert team at Eurazeo Brands.”
McGrath’s label looks to be in good hands as Eurazeo Brands has worked with the likes of Moncler, Farfetch, and Nest Fragrances.
You can pick up McGrath’s bomb eyeshadow palettes and lipsticks at 54 Sephora stores and online at PatMcgrath.com and Sephora.com.
2 billion here we come?
