Pat McGrath Labs — the beauty operation of makeup artist Pat McGrath — has received a $60 million minority investment from Eurazeo Brands.
Terms of Eurazeo’s investment were not disclosed, but industry sources said the firm is estimated to have taken a 5 to 8 percent stake in the business at a valuation of more than $1 billion. Pat McGrath Labs has received $88 million in external funding, including capital it received from One Luxury Group, which is also said to have a minority stake, in 2016. Industry sources said the business is growing quickly and is expected to do more than $60 million in retail sales for 2018. Speculation in the market is that Pat McGrath Labs will be a target for large, strategic beauty players in the next 18 to 24 months.
Ganni turned over a new leaf for spring 2019, reports @fionawsma from Copenhagen Fashion Week. Instead of sending its signature floral-print dresses down the runway, the brand collaborated with 66 North, a technical outerwear brand, and produced a chic-yet-utilitarian offering that included a tie-dye vest and short set, and leopard-print pieces sprinkled among the khaki parkas and bucket hats. #wwdfashion #ganni #copenhagenfashionweek
“I love ‘Kudos’ by Rachel Cusk that just came out,” said @katieholmes212 of what’s on her summer reading list. Head to WWD.com to read which books @lilireinhart, @dakotafanning and more are picking up this summer. #wwdeye (📷: @kukukuba)
“I’ve been an actress since I was like 10 or 12, and then I went to drama school. I have a technique, and I have a process that I bring to every role. And I can talk about it, but that kind of makes it less magic, and also when I talk about it, it makes me feel like I’m full of myself,” ‘Crazy Rich Asians Star’ Constance Wu tells @leighen .(📸: @emmanmontalvan: styled by @micaelaerlanger ) #wwdeye #crazyrichasians #constancewu