Pat McGrath Labs recently announced a $60 million dollar minority investment deal with the investment firm Eurazeo Brands meaning the brand is now valued at more than $1 billion. This is big news for the brand who has traditionally kept its investments fairly confidential.
Founded in 2016, the iconic Pat McGrath’s namesake line has become synonymous with lust-worthy exclusive products that generate frenzy and excitement. According to a report by WWD the brand will use the new investment to introduce new products and continue to expand into new geographic locations.
Thrilled by the news, McGrath took to Instagram to thank her devoted fans and supporters.
“I am so thrilled to be sharing some major news with you,” she said via a typed letter. The note went on to say that the brand is here to break molds and that it’s because of her supporters that she does what she does.
We couldn’t be more excited about this self-made legend‘s latest chapter and we can’t wait to see what Pat McGrath Labs cooks up with next.