01.20.23
Makeup by Mario, an artist-driven color cosmetics brand founded by Mario Dedivanovic, has completed a $40 million minority growth investment from Provenance and Silas Capital.
Today, the company sells a broad assortment of prestige color cosmetics exclusively through Sephora and its own website. Makeup by Mario recently launched its inaugural foundation line, SurrealSkin Foundation, a breathable, luminous foundation with customizable, long-wearing coverage.
"We were at an important milestone in the company's growth, and we were looking for the right financial partners to guide us on the next step of that journey. Our goal is to build a legacy that we can be proud of, one based on timeless beauty principles. We've found the ideal partners in Provenance and Silas for that journey," said Mario Dedivanovic.
“The alignment and partnership that we feel with the Provenance and Silas teams is incredible,” said Alicia Valencia, global president of Makeup by Mario. “We couldn't be more excited to leverage Provenance's capabilities within the e-commerce channel, along with Silas' past success within the color cosmetics category to further amplify the brand's trajectory.”
"We are thrilled to partner with Mario and Alicia," said Provenance partner Paula Sutter who will serve on the board of the company. "They've built a phenomenal brand already, and we're honored to help be thoughtful stewards on the growth that lies ahead."
"Makeup by Mario is an incredible success story – one that we've been tracking since before its launch," added Brian Thorne, Partner at Silas Capital. "With Mario's awarding-winning and transformative products, unmatched social media reach and true artistry authority, we believe this makeup artist-led brand is well-positioned to become a clear leader in the cosmetics category."
Makeup by Mario was advised by Threadstone Partners LP and Cooley LLP and Provenance was advised by Perkins Coie LLP.
About Makeup by Mario
Launched in October 2020, Makeup by Mario was founded by Mario Dedivanovic, a makeup artist who is sought after for his pioneering makeup techniques. With a client roster including celebrities, dignitaries, royalty and world leaders, Mario has worked with some of the most iconic faces of the last two decades. Mario is also a trusted leader in artistry education, sharing his trade secrets through his education platform The Masterclass.Today, the company sells a broad assortment of prestige color cosmetics exclusively through Sephora and its own website. Makeup by Mario recently launched its inaugural foundation line, SurrealSkin Foundation, a breathable, luminous foundation with customizable, long-wearing coverage.
"We were at an important milestone in the company's growth, and we were looking for the right financial partners to guide us on the next step of that journey. Our goal is to build a legacy that we can be proud of, one based on timeless beauty principles. We've found the ideal partners in Provenance and Silas for that journey," said Mario Dedivanovic.
“The alignment and partnership that we feel with the Provenance and Silas teams is incredible,” said Alicia Valencia, global president of Makeup by Mario. “We couldn't be more excited to leverage Provenance's capabilities within the e-commerce channel, along with Silas' past success within the color cosmetics category to further amplify the brand's trajectory.”
Plans for Expansion
The investment will enable Makeup by Mario to further accelerate the expansion of its product assortment at Sephora in North America and abroad, augment the existing management team, and significantly grow its direct-to-consumer business."We are thrilled to partner with Mario and Alicia," said Provenance partner Paula Sutter who will serve on the board of the company. "They've built a phenomenal brand already, and we're honored to help be thoughtful stewards on the growth that lies ahead."
"Makeup by Mario is an incredible success story – one that we've been tracking since before its launch," added Brian Thorne, Partner at Silas Capital. "With Mario's awarding-winning and transformative products, unmatched social media reach and true artistry authority, we believe this makeup artist-led brand is well-positioned to become a clear leader in the cosmetics category."
Makeup by Mario was advised by Threadstone Partners LP and Cooley LLP and Provenance was advised by Perkins Coie LLP.
