Makeup brand Pat McGrath Labs secures investment from Eurazeo

Makeup brand Pat McGrath Labs has received $60m from global investment company Eurazeo Brands to expand its presence globally.

With the investment, Eurazeo Brands joins ONE Luxury Group to become a minority shareholder in the beauty company.

Pat McGrath Labs will use the investment to further expand its distribution in the US and worldwide.

Eurazeo Brands CEO Jill Granoff said: “We are honoured to be working with Pat, whose vision, talent and trailblazing history in the beauty industry have set Pat McGrath Labs up to be one of the most authentic and innovative makeup brands to ever come to market.

“We’re excited to combine our experience of building global beauty and fashion brands with Pat and her team’s unmatched creativity and passion.”

Established in 2016 by popular makeup artist Pat McGrath, Pat McGrath Labs offers a range of makeup products such as Gold 001.

Last year, the company introduced its core makeup collection on patmcgrath.com and at select Sephora locations in North America.

The company is planning to introduce new product categories such as lipsticks, eyeliners and eyeshadows.

Eurazeo CEO Virginie Morgon said: “We look forward to joining Pat McGrath Labs on its global journey to reach millions of new consumers who have followed the brand for years.

“We love to partner with brilliant entrepreneurs like Pat and believe this investment will be a success.”