British makeup artist, Pat McGrath has broken the internet and it’s totally for the right reasons. Just a week after 2 1year old makeup entrepreneur, Kylie Jenner was announced as the youngest self-made billionaire in America, McGrath’s cosmetic company, Pat McGrath Labs, has reached an estimated valuation of $1 billion, outpacing the figure for Kylie Cosmetics.
Pat McGrath is famous for creating stunning futuristic makeup looks for influential runway shows. In 2016, she released her eponymous makeup line Pat McGrath Labs and it immediately became a staple at Sephora.this week.
WWD (Women’s Wear Daily) reported the value of McGrath’s business. The brand also accepted an investment from Eurazeo Brands, an investment division of global investment firm Eurazeo, in a $60 million deal.
In 2016, Pat McGrath created her makeup line Pat McGrath Labs. Now it’s worth $1 billion. It has surpassed Kylie Cosmetics. pic.twitter.com/KSgg17alKN
— Affinity Magazine (@TheAffinityMag) July 18, 2018
This announcement really got a lot of fans excited this is also proof that Black women are capable of doing amazing things. Well done Pat!