Billionaire businessman Dennis Bastas has bought out MCoBeauty, the cosmetics and skincare company best known for making cheaper versions of popular products, in a deal that values the company at $1 billion.
Started in 2020 by serial entrepreneur Shelley Sullivan, MCoBeauty replicates – or dupes – big-name cosmetics and skincare products and sells them at affordable prices in supermarkets and chemists.
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Lauren Sams is the fashion editor, based in Sydney. She writes about lifestyle including the arts, entertainment, fashion and travel. Lauren has worked as a features editor and fashion journalist for ELLE, marie claire and more. Email Lauren at lauren.sams@afr.com
