BeautyInsights

MCoBeauty Business Model, Ownership and Top 10 Competitors

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.

Published: Jan 27, 2026 6:16 AM

By Jeanel Alvarado

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MCoBeauty Business Model, Ownership and Top 10 Competitors

Credit: MCoBeauty

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…

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MCoBeauty Business Model, Ownership and Top 10 Competitors

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.

Unlock the rest of this story

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