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US-based direct-to-consumer beauty and wellness company Oddity, which owns skin and hair brand SpoiledChild and cosmetics label Il Makiage, reported record revenues of $647 million (up 27 percent year-on-year) with an adjusted EBITA of $150 million (up 40 percent) in 2024, according to its full-year results released on Tuesday.
The company exceeded its financial guidance “in every metric” for 2024, a feat that Oddity’s chief financial officer Lindsay Drucker-Mann attributes to the strength of its DTC business and strategic focus on investing in e-commerce and product development. “We are very deliberately focused on what we believe are the most attractive growth areas of the category,” she told The Business of Beauty.
Oddity also reported double-digit growth for SpoiledChild and Il Makiage, the latter of which exceeded revenue of $500 million in 2024, according to Drucker-Mann. Both brands are sold DTC, though Il Makiage also operates 44 boutiques across Israel. This year, the company plans to invest in its biotechnology platform Oddity Labs and grow its existing brands while building two new ones; a telehealth platform offering “medical-grade” skin and hair solutions set to launch in late 2025, and an unspecified beauty and wellness label farther down the pipeline.
“Based on our results [so far this year], we feel really good about our ability to sustain revenue growth,” Drucker-Mann said, adding that Spoiledchild, which launched in 2022 and sells topicals and supplements for skin and hair, recently exceeded $150 million in annual revenue.
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Oddity was founded in 2013 in Israel by Oran Holtzman and Shiran Holtzman-Erel, when the pair of siblings relaunched Il Makiage, a label conceived by the makeup artist Ilana Harkavi in 1972. In 2017, the LVMH-backed private equity firm L Catterton invested $34 million in Il Makiage for a 35.8 percent stake earmarked for the brand’s expansion into the US. In 2024, Oddity repurchased a portion of L Catteron’s shares for $100 million.
Oddity debuted on the Nasdaq in 2023 (ODD.O) at a valuation of $2.8 billion. The company has since made a number of acquisitions, including the Boston-based startup Revela, which was renamed Oddity Labs and serves as the company’s biotechnology division, and AI research firm Fionic, based in Tel Aviv. Its business headquarters are located in New York.
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Il Makiage Parent Oddity Files to Go Public
Israel-based beauty tech company Oddity filed a registration statement with the US Securities and Exchange Commission for an initial public offering under the ticker “ODD” this week.
