There’s trouble in luxury beauty Pat McGrath Labs is reportedly struggling, with multiple layoffs and a valuation drop from its former $1 billion peak. While exact numbers are unclear, it’s obvious the brand isn’t thriving like it once was.

Why the decline? One glaring issue is pricing. While Pat’s products are undeniably stunning, charging £112 for an eyeshadow palette is steep especially in today’s economy. Beauty lovers might indulge once, but few can justify repeat purchases at that price point.

The second issue? Marketing and visibility. Despite Pat McGrath’s legendary status, her brand seems to rely too heavily on her name. There’s little presence on social of influencer collaboration, and barely any viral buzz. In a beauty industry that lives online, that’s a major misstep.

It’s sad to watch such an iconic brand lose steam. Pat recently became Beauty Creative Director at Louis Vuitton, which could bring renewed attention but whether that translates to beauty sales is uncertain. Are beauty lovers buying Louis Vuitton makeup though…? 

We’re rooting for Ms Pat, and hopefully, a strategic revamp will bring the brand back into the spotlight it deserves.