As of last week, Kylie Jenner is officially the world's youngest 'self-made' billionaire, according to the Forbes billionaire list, largely thanks to her hugely lucrative beauty business, Kylie Cosmetics, which has an estimated worth of $900 million.
However, Pat McGrath Labs, the company from the so-coined ‘mother of make-up’, British make-up artist and business woman Pat McGrath, surpasses that.
As of last July, the valuation of Pat McGrath Labs was an estimated $1 billion, thanks to a $60 million investment from New York City-based investment firm Eurazeo Brands who became a minority shareholder in the company. According to WWD, the company was expected to bring in $60 million in sales in 2018.
Pat McGrath Labs launched in 2015 with a single product, the same year that Jenner launched her Kylie Lip Kits which initiated Kylie Cosmetics. Both brands break the traditional beauty business rules, using social media to tease surprise product ‘drops’ which come with huge hype.
The latest excitement–announced via Instagram, of course–from Pat McGrath Labs is that it's finally launching in the UK.
View full post on Instagram“Coming Soon…” was the caption against a video revealing a London homecoming, which would mean British shoppers will no longer have to pay US shipping tax on specific products that aren’t already available here via Net-a-Porter. We have since learnt that from 4 April 2019, Pat McGrath Labs will be available at Selfridges.
Our first purchase will be the FetishEYES Mascara, £22, the brand’s latest launch positioned as a full-on lash fantasy. Dreams can come true, hey.
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