MCoBeauty is an Australian “luxe for less” beauty brand that has rapidly achieved a $1 billion valuation through a highly successful strategy centered on “duping” popular, high end cosmetic products at a mass market price point. The company was founded by Shelley Sullivan in 2016 and was fully acquired by the DBG Health group, led by billionaire Dennis Bastas, in February 2025. MCoBeauty’s aggressive market strategy, which relies on fast product development and leveraging social media trends, has made it the fastest growing beauty brand in Australia, commanding approximately 5% of the domestic beauty market. This strategy, however, has led to significant legal challenges, including settled cases with Tarte Cosmetics and Chemcorp, and an ongoing, high profile lawsuit in the United States with Sol de Janeiro over alleged fragrance and packaging infringement. The brand is the flagship of DBG Health’s expanding beauty division, which also includes Nude by Nature, PONi…
Cosmetics, and esmi Skin Minerals. This multi brand portfolio positions the parent company to dominate various segments of the mass market beauty channel, from affordable dupes to natural mineral makeup and targeted skincare.
Company Overview and Ownership MCoBeauty was established in 2016 by entrepreneur Shelley Sullivan, building upon the legacy of her previous brand, ModelCo, which she founded in 2002.
The brand’s core mission is to provide high quality, cruelty free, and vegan cosmetics that closely mimic the performance and appearance of luxury products, a concept it openly embraces as “duping”.
The corporate structure is now anchored under DBG Health, a major Australian health and wellness corporation that also owns the pharmaceutical giant Arrotex. DBG Health, under the leadership of Dennis Bastas, acquired the remaining stake in MCoBeauty in early 2025, valuing the company at $1 billion…
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