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Published
Jul 17, 2018
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Eurazeo invests $60 million in Pat McGrath Labs

Published
Jul 17, 2018

Pat McGrath Labs, the makeup brand created by legendary makeup artist Pat McGrath, has received a $60 million minority investment from Eurazeo Brands.

Industry sources estimate the firm has taken a 5 to 8 percent stake in the business at a valuation of more than $1 billion


The new capital will help Pat McGrath Labs further expand its distribution in the U.S., as well as meet increasing demand worldwide. Additional terms of the deal were not disclosed, but industry sources estimate the firm has taken a 5 to 8 percent stake in the business at a valuation of more than $1 billion. 
 
“We are honoured to be working with Pat, whose 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,” said Jill Granoff, CEO of Eurazeo Brands, in a news statement. 

CEO of Eurazeo, Virginie Morgon, added, “We look forward to joining Pat McGrath Labs on its global journey to reach millions of new consumers who have followed the brand for years. We love to partner with brilliant entrepreneurs like Pat and believe this investment will be a success.” 
 
Founded in 2016, Pat McGrath Labs saw early success with “straight-from-the-runway” makeup kits that sold out in less than six minutes. Last fall, it debuted its core collection of makeup on patmcgrath.com and entered select Sephora locations in North America, reaching top selling SKU status with various hit products. 
 
The cosmetic brand is currently in 54 Sephora stores in the U.S. and plans to expand into 90 Sephora stores in the fall. 
 
McGrath has been named “the most influential make-up artist in the world” by Vogue. She has curated and created makeup looks for runway shows for leading luxury fashion houses, like Prada, Louis Vuitton, Versace, Givenchy, Maison Margiela, Valentino and many others.
 
The investment from Eurazeo brings the brand’s total external funding to date to $88 million. It previously received capital from One Luxury Group, which is also said to have a minority stake. 
 
Eurazeo has a diversified portfolio of approximately €16 billion in assets under management. Most recently, it invested in fellow beauty brand Nest Fragrances in November. Other fashion investments include Moncler, Vestiaire Collective and Farfetch

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