Key Takeaways: Pat McGrath Labs has launched a formal sale process a decade after its debut, with bids due January 26, 2026 as the once $1 billion brand seeks a reset after losing the vast majority of its valuation.The move follows shortly after Pat McGrath’s appointment as Creative Director of LVMH’s La Beauté Louis Vuitton, launched this past summer.Pat McGrath Labs is in the midst of a turnaround after failing to turn virality into scale, weighed down by limited product innovation and intensifying competition.Pat McGrath Labs, the cosmetics brand launched by its namesake British makeup artist founder, is marking its 10th anniversary by hanging up the “for sale” sign.The assets of the prestige beauty and color cosmetics brand known for the virality of its makeup looks have entered a formal sell process, with bids due by January 26 and an auction scheduled for the following day, asset advisory firm Hilco Streambank, a subsidiary of Hilco Global, said.The disclosure did not specify whether Pat McGrath would remain with the company she founded in 2015, named after her and fronted by her as its public face. A Pat McGrath Labs representative told BeautyMatter in an email, "Pat McGrath Labs is currently going through restructuring and recapitalization processes with its partners to align its financial framework with the enduring strength and creative leadership of the brand. These processes, expected to be completed in early 2026, along with a strong pipeline of innovation, the commitment of its partners, and the unwavering support of its passionate global community, will allow Pat McGrath Labs to move forward in a productive and healthy environment.