Pat McGrath Labs Is Now Officially Worth More Than Kylie Cosmetics

There’s been a lot of talk about Kylie Jenner this week, and especially about her almost-three-year-old beauty brand, Kylie Cosmetics. The brand landed Jenner on the cover of Forbes, accompanying a story titled “How 20-Year-Old Kylie Jenner Built A $900 Million Fortune In Less Than 3 Years.”

But now another beauty brand is making headlines for its financial achievements. Pat McGrath Labs, the brainchild of legendary makeup artist Pat McGrath, is officially worth over $1 billion, after receiving a $60 million minority investment from Eurazeo Brands, reports WWD.

The exact numbers were, of course, not disclosed, but the firm is said to have taken a 5-8% stake in the business, at a valuation of more than $1 billion. Eurazeo Brands chief executive officer Jill Granoff says McGrath’s “vision, talent and trailblazing history in the beauty industry have set Pat McGrath Labs up to be one of the most authentic and innovative makeup brands to ever come to market.”

Next up for Pat McGrath Labs is international expansion, a top priority for the makeup artist. “There will be acceleration,” McGrath said. “We’re having incredible success and [in terms of] wanting to expand the brand in the U.S. as well as expanding demand worldwide — we’ve got a lot of fans all over the world asking for this. That’s what’s going to be incredible about working with Eurazeo…to see the distribution grow.”

MAJOR congrats to the iconic Pat McGrath on this DIVINE achievement.