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Makeup by Mario: FUTURE50 2024

Published March 26, 2024
Published March 26, 2024
Makeup by Mario

Launched: 2020

Founder: Mario Dedivanovic, CEO and Founder

Key Executives:

  • Mario Dedivanovic, CEO and Founder
  • Alicia Valencia, Global President
  • Oskar Chabrowski, CMO
  • Tony Gajewski, CFO/COO

2024 Full Year Expected Revenue Range: $150 to $200 million

Offline points of distribution projected globally for 2024: 1,800

Primary Category: Color Cosmetics

Key Markets: North America, Europe, Middle East

Retail Partnerships: Sephora

Primary Distribution Channel: Prestige

Other Distribution Channels: DTC

Funding Rounds: Private Equity

Total Funds Raised: $40 Million

Notable Investors: Provenance, Silas Capital

Notable Advisors / Board Members: Alicia Valencia, Paula Sutter

Insight shared by Mario Dedivanovic, CEO and Founder 

I knew for many years that my goal was to eventually launch a makeup brand. My career as an artist helped to lay the groundwork for Makeup by Mario, the brand. I was very thoughtful and intentional with my work in the years leading up to the release of the line in terms of what projects I worked on and who I worked with. I knew that I would work for 20 years as a makeup artist before introducing a brand and in 2020, right at the 20-year point, I introduced Makeup by Mario to the world. Every product I create is something I use in my own kit as a professional artist. I always want to offer our community purposeful products that are inspired by my makeup techniques and to make artistry approachable and inspiring through education.

What are some of your key business initiatives for 2024?

We have experienced rapid growth and expansion since our launch in 2020. For 2024, we will continue to focus on launching new markets globally, introducing best-in-class innovation and supporting and fueling our core brand offering. Another key initiative for this year is investing in our Sephora field teams. They are such an integral part of our business because they can bring education to life in-store for every visitor and empower them to feel beautiful, confident, and inspired. Our community is also incredibly important for our brand, and we will focus on these key relationships both online and offline.

What are you most proud of having accomplished?

I am so proud and grateful for what our Makeup by Mario Team has accomplished. We are in more than 1,600 Sephora doors worldwide, and after only three years, we are ranked as a top 10 brand at Sephora North America, and Master Mattes Eyeshadow Palette became the #1 eyeshadow palette at Sephora globally. It has truly been an incredible journey so far and very  rewarding and exciting to see the positive reception the brand has received around the world. We have exceeded our sales targets across all international markets. It is so great to see the brand resonate with a broad range of consumers and in so many product categories. I wake up every day feeling gratitude for the success of Makeup by Mario, for my talented team, and for our strong community across the globe that make this not just a dream, but a reality.

What has been the biggest surprise since the brand was founded?

There have been many surprises like the amount of agility required to launch a start-up. Another one is the amount of success we have achieved in just three years' time. We have become a Top 10 Brand at Sephora and have a product in the top ranks of almost all of Sephora’s major makeup categories, which speaks to our ability to resonate with a broad range of consumers and product categories.

"I wake up every day feeling gratitude for the success of Makeup By Mario, for my talented team, and for our strong community across the globe that make this not just a dream, but a reality."
By Mario Dedivanovic, CEO + Founder, Makeup By Mario

What aspect of your brand DNA fuels your competitive advantage?

Prior to launching Makeup by Mario, I worked as a makeup artist for many years. I love using my artistry experience to be able to bring consumers smart product formulas with effortless application for any level of expertise. One of my biggest passions is educating, and I love to share my artistry tips with consumers and show our audience how these pro techniques can be attainable and achievable for all. As a brand, we have a strong social community, which allows us to engage our audience, educate, and share tips in an easily accessible format.

Please share your insight on the future of the beauty industry.

I’m happy to say I believe we’re headed towards a future in beauty with more transparency coming from the brand side. I’m also starting to see a lot of influencers who are product developers and behind-the-scenes experts and consumers in general who are more educated than ever, so brands are leveling-up in all aspects to meet these new expectations. 

What is the best piece of advice you’ve been given?

One of the best pieces of advice I’ve ever been given is to focus on competing with myself versus others. I’ve followed this advice for my entire career—as a makeup artist and brand founder—and it works. Not only has it continually pushed me out of my comfort zone and encouraged growth, it’s also what’s kept me authentic and centered on my own vision.

What advice would you give to someone contemplating launching a beauty brand?

My best advice to someone thinking of launching a beauty brand is to surround themselves with the right team. Don’t try to be an expert at everything; focus on your personal strengths and allow others space to do what they do best. It’s also important to have a lot of patience. Building a start-up from scratch is very challenging, albeit rewarding, and there will be plenty of set setbacks and struggles to overcome. The good news is you get through them.

If you could change one thing in the beauty industry what would it be?

I’d like to see more products and brands with purpose that speak to the consumer more authentically and transparently. My goal from the very beginning was to help people, whether makeup experts or novices, recreate my techniques with beautiful, easy-to-use products that make them look and feel their best. There are a lot of mixed messages out there and it would be nice to see less confusion. I’ve become known for my straightforward, no-nonsense approach to beauty and think my consumers and followers appreciate it.


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