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.
Penelope Cruz wows in a strapless white @chanelofficial feather dress. She is nominated for Best Movie/Limited Series Supporting Actress for The Assassination of Gianni Versace: American Crime Story. #Emmys
Take a peek into Gucci's new Instagram account (@guccibeauty), which is guided by Creative Director Alessandro Michele’s vision of beauty. In typical Gucci fashion, the account already features a series of artworks spanning across history, ethnicity, culture and geography. It will showcase and promote its new cosmetic launches and fragrances as well as looks from the fashion shows and special collaborations with artists and talents. #wwdbeauty
Photographed by @delphachardphotos