In Depth | How Did This Beauty Brand Founded During the Pandemic Achieve a $200 Million Valuation Without Funding?

In January of this year, Makeup by Mario, a beauty brand founded by American celebrity makeup artist Mario Dedivanovic, secured a $40 million investment from private equity firms Provenance and Silas Capital to facilitate the company’s global expansion plans. This deal pushed the valuation of Makeup by Mario beyond $200 million.
The high valuation is attributed to Makeup by Mario’s rapid growth. Established in 2020 amid the pandemic, the brand has been growing at a rate of doubling its revenue each year, with an estimated revenue of $100 million expected in 2023.
It is wor …