Makeup by Mario is reportedly exploring a potential sale of the business.
The US make-up brand has brought on investment bank J.P. Morgan to look into its options.
“Over the several years since our launch we have experienced significant growth for Makeup by Mario,” founder and CEO Mario Dedivanovic told WWD.
“We will continue to drive Makeup by Mario forward both in terms of growth and innovation, and as we do so, we intend to evaluate incoming inquiries alongside our longtime advisers at J.P. Morgan.”
It follows Makeup by Mario receiving a US$40m minority investment in 2023 to boost the company’s global expansion plans.
This came from private equity firms Provenance and Silas Capital, with the deal valuing the business at more than $200m.
The investment was used to address inventory challenges and expand the brand’s team.
Makeup by Mario joins a growing roster of brands which have been exploring potential sales in 2024.
Selena Gomez hired advisors in March to assess offers for her cosmetics brand Rare Beauty.
Rare Beauty reportedly onboarded bankers to field interest from companies looking to invest in or acquire the company.
Kosas Cosmetics was also rumoured to be exploring a potential sale of the brand in January.
The Los Angeles-based skin care and make-up hybrid is said to have hired investment bank North Point to explore its options.
Makeup by Mario was founded by Dedivanovic in 2020; he began his career as a retail assistant at beauty retailer Sephora.
It launched exclusively with Sephora in North America, expanded globally with the company and then launched its own D2C website.
Dedivanovic has over 20 years of experience in the beauty industry, having been a stylist for A-listers including singer Ariana Grande and the Kardashian-Jenner clan.
