Success Stories: Shelley Sullivan
From Makeup Mastermind to Mogul
Shelley Sullivan didn’t just build a beauty brand — this unicorn rewrote the rules of the game.From launching heated eyelash curlers in the early 2000s to delivering viral makeup dupes on supermarket shelves, Sullivan turned MCoBeauty into a unicorn powerhouse that disrupted the luxury beauty market from the bottom up.Earlier this year, after guiding MCoBeauty to a jaw-dropping $1 billion valuation, she stepped down as CEO, marking the end of an era — but not her influence.
Read on for a success story that's trailblazing, unapologetic, and distinctly inspiring.
Read on for a success story that's trailblazing, unapologetic, and distinctly inspiring.
From Model Agent to Beauty Trailblazer
Before she became the founder of Australia’s most talked-about beauty brand, Shelley Sullivan was already making waves behind the scenes. In the 1990s, she founded a successful model and talent agency in Sydney. But her ambitions extended far beyond the catwalk.In 2002, spotting a gap in the market for innovative beauty tools and formulas, she launched her first brand, ModelCo. With savvy product development and trend-forward marketing, ModelCo created cult favourites like the world’s first airbrush self-tanner and heated eyelash curlers — proving that Sullivan had an eye for what women wanted in their beauty bags before they even knew it themselves.
Before she became the founder of Australia’s most talked-about beauty brand, Shelley Sullivan was already making waves behind the scenes. In the 1990s, she founded a successful model and talent agency in Sydney. But her ambitions extended far beyond the catwalk.
In 2002, spotting a gap in the market for innovative beauty tools and formulas, she launched her first brand, ModelCo. With savvy product development and trend-forward marketing, ModelCo created cult favourites like the world’s first airbrush self-tanner and heated eyelash curlers — proving that Sullivan had an eye for what women wanted in their beauty bags before they even knew it themselves.
The Birth of MCoBeauty: High-End Looks, High Street Prices
By 2016, Sullivan had a new mission: make prestige beauty accessible to everyone. Enter MCoBeauty, a “luxe for less” brand that would go on to redefine the drugstore aisle. With affordable alternatives to high-end cult products, MCoBeauty exploded in popularity — especially among Gen Z and millennial shoppers obsessed with viral TikTok beauty trends.What set MCoBeauty apart? Speed to market, bold influencer campaigns, and retail partnerships that made the brand unmissable on shelves across national distribution chains Woolworths, Big W, and later, major international retailers.By 2024, the brand boasted over 500 products, from flawless foundation dupes to celebrity-inspired lip kits, all with a price tag that didn’t sting. Beauty lovers didn’t just buy them — they raved, shared, and stocked up.
By 2016, Sullivan had a new mission: make prestige beauty accessible to everyone. Enter MCoBeauty, a “luxe for less” brand that would go on to redefine the drugstore aisle. With affordable alternatives to high-end cult products, MCoBeauty exploded in popularity — especially among Gen Z and millennial shoppers obsessed with viral TikTok beauty trends.
What set MCoBeauty apart? Speed to market, bold influencer campaigns, and retail partnerships that made the brand unmissable on shelves across national distribution chains Woolworths, Big W, and later, major international retailers.
By 2024, the brand boasted over 500 products, from flawless foundation dupes to celebrity-inspired lip kits, all with a price tag that didn’t sting. Beauty lovers didn’t just buy them — they raved, shared, and stocked up.
A Billion-Dollar Exit — and the Forbes Australia Cover
In early 2025, Sullivan made headlines once again — this time for stepping away from the brand she built from scratch. She sold her remaining 50% stake in MCoBeauty to Dennis Bastas of DBG Health, officially hitting a $1 billion valuation. It was a landmark moment for the Australian beauty industry, and for female entrepreneurship.The magnitude of her achievement was covered by business media, including Sullivan on the cover of Forbes Australia (Issue 16). The feature chronicled her three-decade career and celebrated the fierce vision behind MCoBeauty’s rise. She joined a rare league of founders who not only built a beloved brand, but scaled it to a unicorn valuation, largely due to strategic positioning and scaling.
In early 2025, Sullivan made headlines once again — this time for stepping away from the brand she built from scratch. She sold her remaining 50% stake in MCoBeauty to Dennis Bastas of DBG Health, officially hitting a $1 billion valuation. It was a landmark moment for the Australian beauty industry, and for female entrepreneurship.
What’s Next for the Beauty Queen of Disruption?
Although she stepped down as CEO, Sullivan is far from slowing down. She recently signed with powerhouse agency CAA (Creative Artists Agency), exploring new ventures across fashion, talent, and international brand-building. She splits her time between Sydney and Los Angeles, continuing to expand her influence in the beauty and lifestyle worlds.And while she may no longer be in the MCoBeauty boardroom, Sullivan still champions the brand’s mission and remains its ultimate ambassador— cheering it on from the front row.
Although she stepped down as CEO, Sullivan is far from slowing down. She recently signed with powerhouse agency CAA (Creative Artists Agency), exploring new ventures across fashion, talent, and international brand-building. She splits her time between Sydney and Los Angeles, continuing to expand her influence in the beauty and lifestyle worlds.
And while she may no longer be in the MCoBeauty boardroom, Sullivan still champions the brand’s mission and remains its ultimate ambassador— cheering it on from the front row.
Legacy: Redefining Beauty, Power, and Possibility
Shelley Sullivan's story is one of unrelenting ambition, and learning to pivot. She didn’t just build a beauty brand, she built a cultural movement around it. In doing so, she opened doors for a generation of founders (and particularly female founders), proving it’s possible to start small, scale smart, and exit BIG.
Her legacy? Making luxury beauty a little less elite, more accessible and more fun — and that's sure to have ongoing appeal for a long time to come.
Shelley Sullivan's story is one of unrelenting ambition, and learning to pivot. She didn’t just build a beauty brand, she built a cultural movement around it. In doing so, she opened doors for a generation of founders (and particularly female founders), proving it’s possible to start small, scale smart, and exit BIG.
Her legacy? Making luxury beauty a little less elite, more accessible and more fun — and that's sure to have ongoing appeal for a long time to come.
Interested in learning more about Shelley's story –– and business strategies –– in person?
Get your tickets to see her live on stage at Business and Beyond 2025 before they sell out!
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