The Elle Macpherson & Victoria Beckham Effect

Beauty industry pioneer Shelley Sullivan reflects on MCo billion-dollar success story

Beauty industry disruptor Shelley Sullivan opened up today about her extraordinary journey building MCoBeauty into a billion-dollar company, sharing candid insights about the challenges and triumphs behind Australia's most successful cosmetics brand transformation.

Speaking at Ray White's sold-out Connect 2025 conference on the Gold Coast, Sullivan recounted her path from launching a six-product startup to creating a global beauty powerhouse that captured significant market share from industry giants including L'Oréal, Maybelline, Rimmel, CoverGirl and Revlon.

She completed her exit from MCoBeauty in January, selling her remaining stake to DBG Health in one of Australia's most valuable female-led M&A deals.

"There really is nothing like being told you can't do something to give you drive, and for that I'm grateful," Sullivan said, reflecting on her 30-year entrepreneurial journey.

"I never went to university, I did a small degree in psychology and started ModelCo and once I knew I could run a business I ran MCo from startup to $1 billion valuation."

The beauty mogul emphasised that her success was far from overnight, built on decades of understanding consumer needs and innovative marketing strategies.

Starting with her first venture at age 21 – a modeling agency that grew from one talent to 18,000 – Sullivan consistently identified market gaps and capitalised on them.

Shelley Sullivan

Her breakthrough came with the heated eyelash curler, which went global within a year, scaling from 5,000 to 5 million units. "I would always think outside the square. How could I sell my stuff at every register?

I needed to be the Cadbury Twirl of beauty!" Sullivan explained. Central to her strategy was leveraging the power of public relations and celebrity endorsements.

High-profile collaborations with Elle Macpherson, Victoria Beckham, and the late Karl Lagerfeld proved transformational for her brands. Lagerfeld was the designer best known as the creative power behind the house of Chanel.

"Victoria Beckham was once photographed with her pink Hermes Birkin and our brow kit at a Galaxy football game and sales just exploded," Sullivan recalled about her endorsement.

"Publicity and PR is absolutely key in business, more so than advertising. Advertorial is a combination of editorial and advertising and that can be powerful as well.

Addressing the "dupe" strategy that became synonymous with MCoBeauty, Sullivan was unapologetic:

"Everything is duped. Think about Zara fashion. Cars, Diptyque candles, and fashion – it's all duped. Women wanted something equal or better for a quarter of the price."

The COVID-19 pandemic proved beneficial for MCoBeauty's retail strategy.

"COVID was a gift for us as we were allowed to go to Woolies to buy your lettuce and some mascara," Sullivan noted, highlighting how the brand's accessibility through major retailers like Woolworths differentiated it from premium beauty destinations.

Now focusing on mentoring other entrepreneurs, Sullivan remains passionate about supporting business growth.

"I have been approached by other brands to be mentored. I want to support others in business and be there for people," she said.

Sullivan's story serves as inspiration for aspiring entrepreneurs, particularly women in business, demonstrating how strategic thinking, persistence, and understanding consumer needs can transform a startup into a billion-dollar empire.