Kylie Jenner made waves last week when Forbes announced that she was on track to become the youngest billionaire in history. Even more impressive, she’s done it all with beauty products (and, of course, a leg up from her famous family). But Pat McGrath, the mother of all beauty innovators and runway makeup, is coming for Kylie’s beauty billionaire title.

As Fashionista reports, New York City–based Eurazeo Brands announced on Monday that they had signed a $60 million deal to become a minority shareholder in McGrath’s’s eponymous beauty line, Pat McGrath Labs. The influx of cash means Pat McGrath Labs’s external funding has jumped to $88 million. According to Fashionista, industry sources estimate that the investment brings the company’s valuation to more than $1 billion, a sizable jump ahead of Kylie Cosmetics‘ $800 million valuation. Pat McGrath Labs is also expected to bring in a whopping $60 million in sales in 2018, according to WWD.

“It has always been my dream to create an iconic beauty brand that goes beyond the usual limitations, that lives outside the parameters of what is expected,” McGrath said of the funding deal in a press release. “I am thrilled to be working with the unique and expert team at Eurazeo Brands.”

For more on FASHION, follow us on Instagram @fashionpivot | Twitter: @fashionpivott | Facebook: Fashionpivott |

If you have a story or suggestion, Email: info@fashionpivot.com

Leave your views in comments box below