Pat McGrath Labs is submitting for chapter.
Ladies’s Put on Every day first reported the information, which comes a month after the Black-owned magnificence model, as soon as valued at $1 billion, was struggling on the finish of final yr and a sale.
It’s been a decade for the reason that influential Jamaican-British make-up artist, Pat McGrath, began her eponymous model recognized for its lush, extremely pigmented eyeshadow pallets, and creating viral magnificence developments just like the “porcelain doll” look from Maison Margiela’s spring-summer 2024 present at Paris Haute Couture Week.
A spokesperson informed WWD in an announcement, “Throughout this course of, the corporate will proceed operations within the bizarre course of enterprise whereas working to restructure its stability sheet and to forge a path to thrive. Pat McGrath Labs stays dedicated to its neighborhood, clients, companions and stakeholders because it continues delivering its signature, high-quality merchandise and culture-defining artistry and innovation.”
In keeping with USA As we speak, the corporate listed over $50 million in liabilities after submitting for Chapter 11 chapter on January 22.
In December of 2025, the cosmetics model introduced it was making ready to place itself available on the market after some indicators of its decline. Gross sales had been sluggish, and inside the corporate, there have been operational modifications, government shifts, and layoffs. Considered one of its buyers, Eurazeo Manufacturers, which initially put $60 million into the corporate in 2018, offered its stake a couple of years in the past. In keeping with WWD, the stake was estimated to be 5 to eight %.
After confirming information of the potential sale, the model additionally deliberate to have an public sale to promote the property of Pat McGrath Labs. The public sale, which was alleged to happen on Monday (January 26), has now been canceled following the chapter information.
McGrath constructed her personal popularity many years earlier than constructing her personal model, engaged on cosmetics for Giorgio Armani and Procter and Gamble. Pat McGrath Labs launched her into stardom, and she or he constructed a passionate following from magnificence obsessives to make-up influencers, and has labored with each celeb you’ll be able to consider. She has even obtained a damehood from the late Queen Elizabeth II. The end result of the corporate’s success got here in 2019, when it reached a $1 billion valuation.
In March of 2025, McGrath took on a further position because the inventive head of Louis Vuitton La Beauté, main the posh model’s cosmetics inventive director, a transfer that raised some questions for the way forward for her namesake model. Although the brand new position has solely reaffirmed McGrath’s powerhouse standing within the trade, this most up-to-date information has confirmed these fears that the corporate is not rising alongside her.
