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.
Ralph Lauren can add a new notch to his leather belt: Honorary Knighthood. A representative of Her Majesty Queen Elizabeth II will present the honor to the iconic American designer at a ceremony next year, reports @lisajlockwood . #wwdnews
Cosmetics entrepreneur Charlotte Tilbury came face to face with one of her inspirations when Queen Elizabeth handed her an MBE, or Member of the Most Excellent Order of the British Empire, at Buckingham Palace earlier today. #wwdbeauty
Stella McCartney has been designing wedding looks for customers, friends, family — and herself — for years.
And now, leveraging the success of the dress she designed for the Duchess of Sussex’s wedding reception in May, McCartney is launching, Made with Love, a bridal line including eight dresses and an ivory tuxedo, reports @natalietheodosi . “I feel very protective over the bride, because I know what it was like when I got married, and for me to do my own wedding dress. There are moments that are so personal and private, so emotional and loaded with many different issues,” McCartney told WWD in an interview in June. “I think we are really blessed to have the emotional trust with a woman. She’ll come in and feel the love that we put into everything. What she chooses can be conventional or unconventional. It’s a personal experience.” #wwdnews