Il Makiage Owner Oddity to Launch New Brand, Lifts Full-Year Outlook
The company predicts full-year net revenue between $799 and $804 million, exceeding its previous upper-bound estimate of $798 million.
Chief financial officer Lindsay Drucker-Mann pointed to recent international expansions noting that this marks the ninth consecutive month of growth since the company's initial public offering in 2023.
'International has been a huge highlight for us this year,' Drucker-Mann told The Business of Beauty. The company, which sells almost exclusively via e-commerce, has set up shop in the UK, Canada, Australia and Germany. It also operates a small number of Il Makiage stores in Israel, and is testing new markets in western Europe including France and Spain.
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Skin is a particular area of growth for the company — Drucker-Mann points out that skincare now contributes 40 percent of cosmetics brand Il Makiage's revenue — which is planning to launch a new brand this fall with a dermatological slant, geared towards common skin and body conditions like acne, psoriasis and hyperpigmentation. But the largest catalyst of Oddity's growth is its focus on direct-to-consumer e-commerce, which it uses to attract and retain online shoppers through tools like Il Makiage's foundation shade matcher or Spoiledchild's 'Ask Spoiledbrain' recommendation quiz.
'The key driver and differentiator for us is that we have a base of 60 million plus users, who've been to our site, given us a lot of information about themselves — most of them have never transacted with us,' she said. 'We have a very direct read on what the consumer is doing and what kind of product will work, and how to approach them.'
Oddity was founded in 2013 in Israel by Oran Holtzman and Shiran Holtzman-Erel when the pair of siblings relaunched Il Makiage, and has a minority stake from the LVMH-backed private equity firm L Catterton. The company has since relocated to the US and has made a number of acquisitions, including the US biotech startup Revela and Israeli tech firm Fionic.
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Il Makiage Parent Raises Full-Year Outlook
Oddity now expects full year revenue to land between $790 million and $798 million, with an adjusted EBITDA of between $157 million and $161 million.
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