Move around, Kylie! MUA's legendary beauty brand Pat McGrath now earns $ 1 billion | Style

Less than a week ago, when the Internet was sent into a frenzy when the news that Kylie Jenner is on track to be one of the youngest billionaires "self-made", thanks to its makeup line, Kylie Cosmetics, which is valued at 800 million dollars

While the Internet still discusses whether or not the reality star of 20 years is really "self-made", one thing is sure: it's not the best source in the beauty game!

According to Fashionista.com, the beauty brand Pat McGrath Labs has just secured a $ 60 million investment from New York-based investment company Eurazeo Brands, and when the numbers were sketched, the company was valued at $ 1 billion

Do it for culture, sis!

Pat McGrath a WOC from England, has been named the most influential makeup artist so many times that makes sense when she launched Pat McGrath Labs in 2016.

To this day, her makeup is a bestseller at Sephora and the success of its brand continues to skyrocket.

"I've always dreamed of creating an iconic beauty brand that exceeds the usual limits, which lives outside the parameters of what is expected," McGrath said in a press release. "I am delighted to be working with the unique and expert team of Eurazeo Brands."

Eurazeo Brands, which now owns a minority stake in makeup, has other investments in the world of beauty and fashion, including Nest Fragrances and Farfetch.

"We are honored to work with Pat, whose vision, talent, and pioneering history of the beauty industry have made Pat McGrath Labs one of the most popular makeup brands. more authentic and innovative never marketed. Jill Granoff CEO of Eurazeo Brands, via a press release. "We are excited to combine our experience of creating global fashion and beauty brands with Pat and the unmatched creativity and passion of his team.

So what's the next step with the beauty brand? Expansion!

"The next step is to continue our incredible trajectory," said McGrath. "We were fortunate to have such a committed and passionate clientele, and the goal is to continue to provide them with more innovative products, directly from parades and a makeup experience that they can not achieve." go elsewhere. a lot of joy and satisfaction when I see how much our loyal customers love products, that pushes us to propose even more innovative creative ideas. "

Congratulations, Pat!