Self-Made Pat McGrath’s Makeup Collection Surpasses $1 Billion In Valuation
Any makeup junkie who hits up Sephora for their beauty fixes are familiar with Pat McGrath Labs.
Pat McGrath got her start as a makeup artist in the early 90s and got her big break by working with huge industry names like Edward Enninful and John Galliano. This trajectory led to her having her artistry featured in the pages of Vogue, W, and Harper's Bazaar. Her career includes showcasing her talent on the hottest of haute couture runways including Comme des Garçon, Prada, Miu Miu, and Dolce and Gabbana. McGrath is also the global creative-design director for Procter and Gamble. Quite a resume!
McGrath is now making headlines with the recent news that her own makeup line, Pat McGrath Labs, has secured a $60 million deal with the New York-based investment firm Eurazeo Brands. This deal has beauty analysts speculating the brand's valuation will now sit at a staggering $1 billion.
The British makeup legend has all the markings of a "self-made" success story. She is the daughter of a Jamaican immigrant mother, whose ingenuity and ability to create shades of makeup that complimented her own darker skin tone, formed the stepping stones that would lead McGrath into her illustrious career and business that she truly loves. In fact, speaking of her mother, she once told Glamour, "I just remember her saying to me, 'It will be a problem for you if you don't love what you do. So make sure!'"
In the same interview, McGrath, 53, gives three real business tips that anyone thinking about turning their passion into profit can employ.
Do it because you love it
Take it from the horse's mouth, McGrath says the key to finding success starts with pursuing what you truly love, even if you're not sure where it will take you. The joy you have when you are in the space of your calling will be all the fuel you need to turn your passion into a thriving career. She said:
"For me, it's not about 100 percent knowing. But to work because you love something is the best place to come from because then you'd do anything—sweep the floors, help the stylists, help the photographer. You have the absence of an agenda."
There's is no such thing as an overnight success
We hear it time and time again, overnight success is actually someone putting in years and years of hard work under the radar, grinding and hustling through it all before there are any real financial rewards. McGrath even kept her job as a receptionist in the early years in order to slowly build her dream career. She revealed:
"I knew I wasn't going to make money in the beginning, so I found another way to support myself—I was a receptionist. It's quite smart to work that way. Otherwise, you get vicious and desperate, and no one wants to work with you. Build your career slowly; then people start to trust you and pay you well."
Create what's missing
McGrath seems to not have only found her true calling, but her path shows that she was willing to follow her intuition. She says that her makeup line actually started with the idea of creating something she couldn't find elsewhere. That ability to fill a void while following her heart led to her massive success with Pat McGrath Labs. She said:
"I was questioning myself, 'What do I crave? What have I never seen before?' And the incredible gold that I'd been using was nearly finished and I was panicking. So when I found [a new gold], I had the mad idea of, Why not just do a line now? The morning after we launched it, the phone started to ring, nonstop. I was in shock."
It just goes to show that you already have everything you need to create the life that you want. Hard work, perseverance, drive, and a little intuition go a long way. Now, McGrath says that she plans to just continue along on the journey, providing new products that her loyal fan base can't live without. She recently told Fashionista:
"The next phase is to continue our incredible trajectory. We have been so blessed to have such an engaged and passionate customer base and the aim is to continue to provide them with more groundbreaking, straight-from-the-runway products and a makeup experience that they cannot get anywhere else. I get so much joy and satisfaction when I see how much our loyal customers love the products, it fuels us to come up with even more innovative creative ideas."
We are so lucky to live in a time where we can watch real self-made Black millionaires and billionaires forge ahead and provide us with so much wisdom and inspiration. Whether or not you are in business for yourself, these tips are great for the career of your choosing.
Featured image by Evan Agostini/Getty Images
- Most Powerful Women 2019: Pat McGrath | Crain's New York Business ›
- Pat McGrath's Makeup Line, Pat McGrath Labs, Is Now Worth $1 ... ›
- Pat McGrath Labs' Valuation Just Surpassed That of Kylie Cosmetics ... ›
- Pat McGrath Labs Is Now Valued at Over $1 Billion | Teen Vogue ›
- FYI: Experts Say Pat McGrath Labs Is Now Worth $1 Billion ›
Michelle Schmitz is a writer and editor based in Washington, DC originally from Ft Lauderdale, FL. A self-described ambivert, you can find her figuring out ways to read more than her monthly limit of The New York Times, attending concerts, and being a badass, multi-tasking supermom. She also runs her own blog MichelleSasha.com. Keep up with her latest moves on IG: @michellesashawrites and Twitter: @michellesashas
ItGirl 100 Honors Black Women Who Create Culture & Put On For Their Cities
As they say, create the change you want to see in this world, besties. That’s why xoNecole linked up with Hyundai for the inaugural ItGirl 100 List, a celebration of 100 Genzennial women who aren’t afraid to pull up their own seats to the table. Across regions and industries, these women embody the essence of discovering self-value through purpose, honey! They're fierce, they’re ultra-creative, and we know they make their cities proud.
VIEW THE FULL ITGIRL 100 LIST HERE.
Don’t forget to also check out the ItGirl Directory, featuring 50 Black-woman-owned marketing and branding agencies, photographers and videographers, publicists, and more.
THE ITGIRL MEMO
I. An ItGirl puts on for her city and masters her self-worth through purpose.
II. An ItGirl celebrates all the things that make her unique.
III. An ItGirl empowers others to become the best versions of themselves.
IV. An ItGirl leads by example, inspiring others through her actions and integrity.
V. An ItGirl paves the way for authenticity and diversity in all aspects of life.
VI. An ItGirl uses the power of her voice to advocate for positive change in the world.
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Rihanna Talks Shedding Expectations And Finding Balance As A Mother
Since becoming a mother in 2022, Rihanna has defined parenthood by her terms and hopes to pass that sense of autonomy on to her children.
For Vogue China’s April cover story, Rihanna shared her perspective on raising her two sons with A$AP Rocky, and how she hopes to preserve her children’s uniqueness, devoid of societal expectations.
"The most beautiful thing...is that [children] come into the world with their own individuality and sincerity, without any logic or conformity,” she told the publication. “Which usually makes you feel that you must fit into a certain group."
The “Work” artist, known for her trendsetting style and captivating persona, expressed her desire to support children in fully embracing their individuality and encouraging them to be whoever they want to be. "It's really beautiful to see and I want to continue to help them navigate that and make sure that they know they can be whoever they want to be,” she says.
She continues, “They should embrace it completely, because it's beautiful, and it's unique. I love them just that way."
From shattering music charts to shaking up the beauty industry, Rihanna has forged a path that has since created the “dream” life we see today. One that she says has made her parents proud of.
“I’m living my dream,” she continued. “My parents were very proud of that because they just wanted me to be happy and successful. So, I think the key thing is to find some kind of balance. Yes, balance is important. Do this and you get the best of both worlds. You can write your own life the way you want, and it will be beautiful. Sometimes, you just need to let go of everyone’s expectations and start living your own story.”
Rihanna, who shares sons, RZA, 23 months, and Riot, 8 months, with rapper A$AP Rocky, recently shared her vision for expanding her family in the future in Interview Magazine.
When stylist Mel Ottenberg asked about the number of additional children she hoped to have, Rihanna replied, "As many as God wants me to have.”
"I don't know what God wants, but I would go for more than two. I would try for my girl,” she adds. “But of course, if it's another boy, it's another boy."
Featured image by Neil MockfordWireImage