Lessons from a $1 Billion Success, meet Shelley Sullivan, Founder MCoBeauty
Shelley Sullivan’s journey with MCoBeauty is nothing short of extraordinary. From launching the brand in 2016 to selling it at a staggering $1 billion valuation in 2024, her story is packed with insights for female founders. Whether you’re building your first business or scaling an existing one, here are the key lessons from Sullivan’s success that can help you on your own path.
1. Find a Gap in the Market and Own It
MCoBeauty disrupted the cosmetics industry by offering affordable alternatives to high-end products (if you’re an Instagram girlie, you might have heard of ‘dupes’). Sullivan recognised a demand for luxury-quality beauty items at budget-friendly prices and positioned MCoBeauty as a go-to brand for everyday consumers. The takeaway? Identify an underserved niche and become the leader in that space.
But do it despite the naysayers.
Shelley shared that along the way she reached out to anyone and everyone in the fashion industry for support, but no one wanted her to succeed.
In entrepreneurship there is a quote we often see regurgitated onto an Instagram tile: ‘No one is coming to save you.’ And never is that more relevant than in Shelley’s building of MCoBeauty. If you’ve identified a gap in the market, back yourself!
2. Leverage Strategic Partnerships
Sullivan’s ability to form powerful partnerships fuelled MCoBeauty’s growth. She collaborated with major retailers like Woolworths and later expanded into the U.S. market via Kroger stores. Aligning with established brands and retailers can accelerate your business growth, providing access to a broader customer base and increased credibility.
In 2021, Shelley sold half of the MCoBeauty business to VidaCorp who had a strong presence in pharmacies. This partnership saw sales increase from $18Million in 2021 to over $260Million in 2024.
There’s an old adage in business that 100% of nothing is nothing. Shelley saw the value in partnering with a company who already had an in to another section of the market where her consumers would be… and it paid off. Big time.
3. Learn from Past Failures
Before launching MCoBeauty, Sullivan built and ran ModelCo, a cosmetics brand with a different positioning. She has openly shared that the lessons learned from her first business—both successes and mistakes—shaped her approach to MCoBeauty.
Add to that, she’s been sued twice for “dupe” (duplicate) products that were alleged to have infringed trademarks. Shelley is unapologetic about her approach and knows that it’s exactly what her customers want.
Failure isn’t the end; it’s an opportunity to refine your strategy and try again with more wisdom.
Shelley has not been an overnight success. Shelley created a first-to-market heated lash curler; the launch in 2002 marking the official beginnings of ModelCo. Which means it’s been a 22 year journey from idea to a $1Billion exit. No matter where you are at on your business journey, keep putting on foot in front of the other.
4. Relentless Marketing
MCoBeauty’s rise wasn’t just about having great products—it was about great branding. The company harnessed influencer marketing and social media to create viral demand for its products. But she didn’t just post once and wonder where the sales would come from.
If you visit the MCoBeauty Instagram page you can see that there are over 4,000 posts and they’ve worked with hundreds of influencers.
Female founders often worry that they are being too salesy or talking about themselves/their business too much, when in reality the affect of the algorithm means that not every even sees your content. So you’ve got to be out there… more and more and more.
Be relentless about getting your product or service into the hands of your ideal customer.
5. Know When to Scale and Exit
Sullivan didn’t hold onto MCoBeauty forever. When Dennis Bastas of DBG Health acquired a 50% stake in 2021/22, she saw the opportunity to leverage his expertise in scaling consumer brands. By 2024, she exited completely, selling the remaining 50% for a $1 billion valuation. Understanding when to scale, bring in partners, or exit is a critical skill for long-term success.
One of the biggest takeaways from Sullivan’s success is the importance of creating a self-sustaining business. By ensuring strong operations, distribution, and branding, she built a company that could thrive even after her departure, which is critical if you plan on exiting some or all of it one day. It’s boring, but this is why people talk about systems and processes so much.
Shelley Sullivan’s story is an inspiration to female founders everywhere, but it doesn’t have to be unique. The more we share stories of women in business the more we can learn and apply to our own businesses to shortcut success. Take one thing and apply it to your business today.
