THE WHAT? Makeup by Mario is said to have drafted in JP Morgan to ‘explore its options’ ahead of a possible sale. The brand’s sales are thought to have been in the region of US$225 million in 2023 and it’s believed to be on course to hit sales of US$300 million this year.
THE DETAILS According to a report published by The Business of Beauty, the brand founded by Kim Kardashian’s make-up artist, Mario Dedivanovic, was valued at more than US$200 million at its last funding round in 2023.
THE WHY? The brand is said to be mulling a sale during the second half of this year, per The Business of Beauty, presumably any sale would enable the SurrealSkin maker to expand further, if the price is right, of course.
