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Agenda-setting intelligence, analysis and advice for the global fashion community.

What Happened to Pat McGrath Labs?

The brand founded by the legendary makeup artist nearly a decade ago is struggling. Once valued at over $1 billion, the line is worth a fraction of that today. Multiple rounds of layoffs, and signs of behind-the-scenes turmoil raise questions about what went wrong and how the business can get back on track.
Last year's "glass skin" look for Margiela couture was Pat McGrath's most viral look to date.
Last year's "glass skin" look for Margiela couture was Pat McGrath's most viral look to date. (Pat McGrath)

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Further Reading

Pat McGrath and the Great Runway Makeup Revival

Suddenly, people are talking about backstage beauty again, largely thanks to the ghostly looks McGrath created for John Galliano. Just as surprising: her brand didn’t immediately come out with a new product. Did we just witness an actual, authentic moment of artistic genius at fashion week of all places?

Who Are Pat McGrath Labs’ Investors?

Eurazeo, which invested in Pat McGrath Labs in a deal that valued the beauty brand at $1 billion in 2018, quietly sold its stake in the beauty line in 2021, BoF has learned.

About the author
Brennan Kilbane
Brennan Kilbane

Brennan Kilbane is News and Features Editor at The Business of Beauty. He is based in London, and supports BoF’s coverage of the multifaceted cosmetics industry, from fine fragrance to wellness trends.

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