Shelley Sullivan

From Reception Desk to a Historic Exit

Widely regarded as one of Australia’s most accomplished female entrepreneurs, Shelley Sullivan is the quintessential self-made founder: a visionary brand builder and industry disruptor who began her working life at the reception desk of a modelling agency and, three decades later, completed a historic exit, selling MCoBeauty at a valuation of more than $1 billion in one of the biggest beauty deals in Australian history. Her story graced the cover of Forbes Australia: Inside the rise of Shelley Sullivan’s billion-dollar beauty business.

ModelCo: A Career of World Firsts

Sullivan first built one of Australia’s leading modelling agencies, growing it from a single model to 1,800 talent across the country. It was there, amid the daily rhythm of shoots and castings, that the pivotal moment of her career arrived: models were coming to set with burnt eyelids, the result of curling their lashes with a blow-dryer. Her answer was the world’s first heated eyelash curler. First stocked by David Jones, it became a global sensation once it appeared in the pages of Vogue, drawing orders from Space NK in London and the celebrated Colette in Paris. In 2002, she sold her agencies for $1 million and invested the proceeds in a new venture: ModelCo.

Sullivan then transcended convention and changed the way women tan forever. Taking her cue from an everyday aerosol, she worked alongside chemists to create the world’s first “tan in a can”, consigning stained hands and streaky coverage to history. It sold out within a day of reaching department stores globally, and the aerosol tan has since grown into a global beauty category, produced by multinationals the world over. Few believed there was room for another beauty brand, least of all one dressed in hot pink. Within five years, ModelCo was stocked in more than 3,000 stores across 27 countries. Elle Macpherson, Dannii Minogue and Rosie Huntington-Whiteley fronted the brand, Hailey Bieber  created a collection with it, Victoria Beckham was photographed wearing it, and Estée Lauder sought to acquire it.

The Power of Instinct

A trailblazer in consumer branding, Sullivan possesses a rare ability to read culture as it shifts, identifying where consumer behaviour is heading and bringing it to market with a speed few global houses can match. Her defining strength is commercial instinct: the ability to see where the market is going before it arrives, and the conviction to move decisively. “Her intuition is second to none,” says creative director Al Weekes, her collaborator since 2002. “She’s got this innate strategic mind that observes and marinates, then she just delivers.” That instinct secured ModelCo’s most celebrated partnership. When Karl Lagerfeld’s team sought a beauty partner, ModelCo prevailed over 22 major cosmetics houses to win the pitch. Sullivan pressed the Lagerfeld team to share what was in Karl’s head, and the result was a 52-piece collection that included a lipstick crowned with the designer’s silhouette and an inbuilt light. The KARL LAGERFELD + MODELCO limited edition collection launched in 2018, sold 4 million units and generated more than $30 million in press and social media value, helping ModelCo secure distribution with retailers including Douglas, Nordstrom and Sephora. For the launch, she painted Paris “ModelCo pink” , dispatching an army of Karl’s Beauty Butlers to the Eiffel Tower, the Tuileries Garden and Place Vendôme.

Taking on the Global Giants

In 2020, she set her sights on a far greater prize. Sullivan has long said her drive comes from being underestimated, and this was the moment that proved it. “When I started MCoBeauty, the market was dominated by global beauty brands such as L’Oréal, Revlon, Maybelline and Rimmel, to name a few,” she recalls. “We had just six MCoBeauty SKUs on the shelves. I was told time and time again that it wasn’t possible, that I would never succeed against the global beauty giants. There is nothing like being told you can’t do something to give you drive.” And succeed she did.

That brand was MCoBeauty. Founded on the promise of luxe for less, it set out to make luxury accessible to all. Sullivan pioneered the luxe-for-less movement in Australia, proving that women need not pay prestige prices for prestige results, and in doing so reshaped the beauty landscape and changed how a generation shops for beauty. At one Forbes Australia gathering, an admirer christened her the “Robin Hood of beauty.” From just six products on six pegs at Big W, MCoBeauty swiftly became a household name, propelled by Sullivan’s intuitive understanding of her customer, her instinct for trends and her flair for disruptive marketing. Her collaboration with comedian Celeste Barber went viral and generated $6 million in sales for MCoBeauty .

From $10 Million to a Billion-Dollar Valuation in Under Five Years

The numbers speak for themselves. MCoBeauty’s sales grew from $10 million in its first year to $262 million by FY24. Sullivan first sold half the business to Dennis Bastas’s DBG Health, then in early 2025 completed her final exit, selling the remaining stake at a valuation of more than $1 billion , one of the most valuable M&A transactions ever led by a female founder in Australia. With a work ethic that placed her as comfortably in the warehouse as in the boardroom, Sullivan took the proudly female-founded brand across leading retailers in Australia, New Zealand and the United States, where it was recognised as a top beauty launch at Target. Along the way, MCoBeauty claimed market share from L’Oréal, Maybelline, Rimmel, CoverGirl and Revlon to become the best-selling beauty brand in Australia and New Zealand, establishing Sullivan as a true category disruptor.

A Career of Distinction

Her achievements have been recognised throughout her career, from the Young Entrepreneur award at the Ernst & Young Entrepreneur of the Year Awards in 2005 to Retail Executive of the Year  at The CEO Magazine’s Executive of the Year Awards in 2017. A year before the sale, she won the retail category at the Australian Financial Review Women in Leadership Awards .

“Shelley is a force,” says Lauren Sams, Fashion Editor of the Australian Financial Review. “She sees opportunities and seizes them, and clearly works to build teams around her to bring her vast vision to life. She is an impressive business leader.”

Today

Following the sale, Sullivan was signed by Creative Artists Agency (CAA) , the world’s leading entertainment and sports agency. “We have been following Shelley and her remarkable impact on the beauty industry for quite some time,” said Toby Borg, CAA’s head of talent business ventures. “We couldn’t be more excited to partner with her as she looks to expand her influence in beauty globally.” She is an entrepreneur, investor and strategic adviser to some of the world’s most recognised brands, businesses and talent, investing privately and partnering with global houses and high-profile names on brand strategy, growth and major commercial ventures. Few advisers have sat in every seat at the table. Sullivan has been founder, operator, partner and seller, and she brings that rare, end-to-end perspective, together with the instincts that built two category-defining brands, to international ventures and the world’s biggest stages. Today, Sullivan is a trusted and strategic adviser to some of the world’s leading talent and global beauty brands, guiding and building major partnerships and brand transactions.

Speaking

A highly sought-after speaker, Sullivan has shared the stage with the likes of Tony Robbins and Steven Bartlett. Her journey from the reception desk to selling a company valued at more than $1 billion resonates with audiences around the world, and she brings three decades of hard-won insight to every room. She is a passionate advocate for young people and women in business.

The Fordham Company represents Shelley Sullivan in collaboration with CAA, Creative Artists Agency.