Pat McGrath Labs

Pat McGrath Labs is a luxury colour-cosmetics and skincare company founded in October 2015 [11] by the British make-up artist Dame Pat McGrath. Built around McGrath's runway and editorial work, the brand translates the techniques she developed backstage into consumer products, spanning face, eyes, lips, cheek and a smaller skincare line. Although McGrath herself is British — born in Northampton, England, of Jamaican heritage — the company operates from the United States, selling through American retailers and raising capital from US-based investors.

The company grew quickly, reaching a valuation of more than one billion dollars within three years of launch, but its later trajectory reversed sharply. Sales fell to around 50 million dollars by 2025 [12], and on 22 January 2026 the company filed for Chapter 11 bankruptcy protection. It remains active rather than closed: the court authorised it to keep operating during a restructuring, and its products stayed on sale.

Pat McGrath spent more than two decades in the fashion industry before launching her own line. The brand's about page describes her as one of the industry's most in-demand make-up artists, creating looks for dozens of runway shows each season across Milan, Paris, London and New York for houses including Prada, Dior, Gucci and Louis Vuitton, and it notes her role as Beauty Editor-at-Large for British Vogue from 2017. Earlier in her career she served as Global Cosmetics Creative Design Director at Procter & Gamble.

The company launched in 2015 with a single product, GOLD 001, which the brand says "sold out in record-breaking time." That debut established the pattern the company would follow: limited, artistry-led releases tied closely to McGrath's own name and reputation.

External investment arrived early. One Luxury Group took a minority stake in 2016, and in July 2018 Eurazeo Brands invested 60 million dollars for a stake reported at 5 to 8 percent, valuing the company at more than one billion dollars and bringing its total external funding to 88 million dollars [11]. Sources differ slightly on the timing of the billion-dollar figure: WWD attributes the valuation to the 2018 Eurazeo round [11], while Wikipedia describes the company as having become "a $1 billion company" by 2019 [9] — consistent accounts of the same milestone.

In 2019 the brand became, by its own account, the biggest-selling beauty line in the history of the London department store Selfridges after its in-store launch. Eurazeo sold its stake in 2021 [12]. By 2025 annual sales had declined to about 50 million dollars, and the following January the company entered bankruptcy proceedings.

Pat McGrath Labs has been majority-controlled by its founder, taking outside minority investment rather than being acquired outright. One Luxury Group held an early minority position from 2016, and Eurazeo Brands held a minority stake from 2018 until its exit in 2021. As of the 2026 Chapter 11 filing, no controlling parent company is documented.

The company positions itself as a luxury house built directly on McGrath's editorial and backstage artistry. "I'm putting all the tricks, backstage secrets, into every product," she told WWD around the 2018 investment. The brand markets itself under the tagline "The Mother of Makeup," and its pricing sits at the luxury end of the colour-cosmetics market; trade coverage of its decline pointed to eyeshadow palettes priced around 128 dollars.

The brand's best-known products are its Mothership eyeshadow palettes, which it markets as the "cult-classic" line that started the company — the first, Mothership I: Subliminal, is described by the brand as an "exact replica" of McGrath's most-used colours from her runway and editorial work. Other signature ranges include the Skin Fetish: Sublime Perfection line of foundations and blurring products, and a skincare range sold under the Divine Skin: Rose 001 name. The product catalogue covers foundation, concealer, primer, powder, setting sprays, eyeshadow, eyeliner, mascara, lipstick, lip gloss and blush, alongside the skincare line.

On ethics, the company states that Pat McGrath Labs "does not test on animals and has been cruelty-free since day one" [6]. Its published materials do not detail vegan status, ingredient policies or manufacturing locations.

Founder recognition has been central to the brand's public profile. Pat McGrath was appointed a Member of the Order of the British Empire (MBE) in 2014 and a Dame Commander (DBE) in 2021 — recorded as the first make-up artist to receive the honour [9]. She was named to Time's 100 Most Influential People in 2019 [9] and received the London Design Medal in 2024 [9]. In 2025 the company collaborated with Addison Rae on an interview and photoshoot for CR Fashion Book, and McGrath continued high-profile fashion work, including makeup for the 2025 Victoria's Secret show and Paris Haute Couture.

The company remains active but financially distressed. On 22 January 2026 it filed for Chapter 11 bankruptcy protection in the US Bankruptcy Court for the Southern District of Florida [12]. The court authorised the company to continue operating during a court-supervised restructuring, and a planned asset auction was postponed indefinitely. Trade analysts attributed the decline to high price points, limited repeat purchasing in eyeshadow, skincare that lacked clinical positioning, and unclear targeting. As of the filing, products remained on sale and stocked at retailers, and McGrath herself remained active in the wider fashion industry.