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
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, fans on social media were over the moon:
I just came to remind you that our very own Pat McGrath (a beautiful Darkskin woman btw) is a “self made” cosmetic billionaire after 2 years of launching her cosmetic line. Why aren’t you making noise about this lmao?— E-ko-ru (@nikoru_sensei) July 19, 2018
Where is Pat McGrath’s Forbes cover?? Fortune cover?— Shelton Boyd (@flyrebel) July 19, 2018
A real self-made billionaire. Go 'head!— *Miss Persistent* (@Miss___Bree) July 19, 2018
️ “Pat McGrath Labs' is now a billion-dollar company surpassing Kylie Cosmetics”https://t.co/MuzxXePdkM
Meet a REAL self made billionaire that Forbes ain’t talking about— Chrissie (@ChrissiesWay) July 19, 2018
What Pat McGrath And Kylie Jenner's Success Taught Me About Black Women And Recognition https://t.co/FVu0FlffAY
Hell yes @patmcgrathreal an actual #selfmade goddess and beauty billionaire! Pat is the creatrix of the most iconic looks we have all seen amongst runways + editorials over the last 15+ years! I’m so proud of this inspiring black business woman. pic.twitter.com/PiOLFxIWZj— BRI LUNA (@YungKundalini) July 18, 2018
McGrath said in a statement that it had been her “dream to create an iconic beauty brand that goes beyond the usual limitations, that lives outside the parameters of what is expected.”
“I am thrilled to be working with the unique and expert team at Eurazeo Brands,” she said of her new business partner.
- This article originally appeared on HuffPost.