Pat McGrath’s cosmetic company, Pat McGrath Labs, has reached an estimated valuation of $1 billion, outpacing the figure for Kylie Jenner’s Kylie Cosmetics.
WWD reported the value of McGrath’s business. Forbes recently estimated Jenner’s company is worth about $800 million.
McGrath launched her brand in 2016 after she’d been a mainstay in the fashion world as the creative force behind iconic makeup looks on the runways. Almost immediately after the launch of Pat McGrath Labs, it became a hit at Sephora stores.
As of this week, the brand accepted an investment from Eurazeo Brands, an investment division of global investment firm Eurazeo, in a $60 million deal.
On the news that her brand is now valued at over $1 billion.
The news was accompanied by a note McGrath published on Instagram, thanking her team for their efforts.