Yesterday, Oddity, the parent company of the beauty brands SpoiledChild and Il Makiage, has announced a stellar 27% increase in revenue for 2024, totaling $647 million. This remarkable growth was fueled by strong performance in the company’s direct-to-consumer (DTC) business, with both Il Makiage and SpoiledChild seeing double-digit revenue increases. In fact, Il Makiage surpassed $500 million in revenue, marking a major milestone for the brand.
The company’s adjusted EBITA also rose by 40%, reaching $150 million. Oddity’s CFO, Lindsay Drucker-Mann, attributed these results to the company’s strategic focus on e-commerce and product development, which has helped solidify its position in the competitive beauty and wellness market. Oddity’s expansion into biotechnology, through its Oddity Labs division, and the growth of its existing portfolio of brands were key contributors to the financial success.
Founded in 2013 by siblings Oran and Shiran Holtzman-Erel, Oddity initially relaunched Il Makiage, a brand originally founded by makeup artist Ilana Harkavi in 1972. The company’s financial success has been bolstered by a partnership with LVMH-backed private equity firm L Catterton, which invested $34 million in Il Makiage in 2017. In 2024, Oddity repurchased a portion of L Catterton’s shares for $100 million.
Looking ahead, Oddity plans to continue its investment in biotechnology and is set to launch two new brands. One of these will be a telehealth platform offering medical-grade skin and hair solutions, which is expected to launch in late 2025. The company also hinted at another beauty and wellness brand further down the pipeline.
