Il Makiage Parent Plans IPO with $1.7 Billion Valuation

Oddity, the parent company of beauty brands Il Makiage and SpoiledChild, has announced an IPO aimed at reaching a valuation of nearly $1.7 billion. The company expects net proceeds from the offering to reach approximately $41 million, assuming its share price hits the midpoint of $28.50, slightly under its goal of $30, according to a filing with the SEC.

Oddity is offering 1,754,385 Class A ordinary shares, and certain selling stockholders are offering 8,771,929 Class A ordinary shares. In addition, the selling stockholders expect to grant the underwriters a 30-day option to purchase up to an additional 1,578,947 Class A ordinary shares at the IPO price, less underwriting discounts and commissions. Oddity also has applied to list its Class A ordinary shares on the Nasdaq Global Market under the ticker symbol “ODD.”

Oddity attributes its success and accompanying valuation to its tech focus — 40% of the company’s workers are employed in technological roles. This has enabled the company to leverage its data to drive strategy and better match its selection to its customers’ demands, as well as develop proprietary technology it believes gives it an edge in the beauty space.

“We bring visitors to our website, turn them into users by asking questions and learning about them, and then leverage the data we have across the platform to convert them into paying customers,” said the company in its SEC filing. “We have built a platform of over 40 million users that we have direct access to and have generated over 1 billion unique data points on our users’ beauty preferences through our digital model. As of March 31, 2023, we had over 4 million active customers, or customers that made at least one purchase with us within the last 12 months.”


Goldman Sachs, Morgan Stanley, and Allen & Company are acting as lead book-running managers for the proposed offering. BofA Securities, Barclays Capital, Truist Securities, JMP Securities, A Citizens Company, and KeyBanc Capital Markets are acting as book-running managers for the proposed offering.

Featured Event

Join the retail community as we come together for three days of strategic sessions, meaningful off-site networking events and interactive learning experiences.



Access The Media Kit


Access Our Editorial Calendar

If you are downloading this on behalf of a client, please provide the company name and website information below: