Il Makiage owner to launch two new brands following ‘outstanding’ growth

Il Makiage’s owner Oddity, today announced it exceeded financial guidance for the full year ending 31 December. The company reported double-digit growth for both the Il Makiage and SpoiledChild brands, with net revenues up by 27% to £511 million ($647 million).

Oddit'y's fiscal year gross profit was up by 31% to £369 million ($468 million) while gross margin was up by 72.4%. Adjusted net income was up by 58% to £95 million ($121 million) and adjusted EBITDA was up by 40% to £118 million ($150 million).

Oran Holtzman, Oddity co-founder and CEO, said: "2024 was a record-breaking year for Oddity. We delivered outstanding results and exceeded our financial guidance every single quarter of the year, just as we have in the past 7 quarters since our IPO, while simultaneously making massive investments in our future.

"We once again proved the power of online. The strength of our direct-to-consumer model really stands out in this backdrop where others talk about weaker sales and excess inventory, yet we delivered net revenue growth of 27% for the year."

Lindsay Drucker Mann, Oddity's Global CFO, added: "We are pleased with our financial results for the fourth quarter, which beat our guidance across revenue, gross margin, adjusted EBITDA, and adjusted diluted EPS. Our strong momentum continues so far in Q125, and gives us confidence in our ability to deliver full-year results in line with our long-term algorithm."

On the back of impressive financial results, the company is building two new brands in 2025. Adding to its portfolio of SpoiledChild and Il Makiage, brand three will be a telehealth platform for consumers with medical-grade skin and body issues and brand four will be in the beauty and wellness market.

For the year ending 31 December 2025, Oddity expects its net revenue to be between £613 million and £620 million ($776 million and $785 million), a gross margin of approximately 70%. And adjusted EBITDA between $155 million and $158 million.

Holztman concluded: "I remain bullish on Oddity’s future. We have positioned ourselves to win in the most important growth areas in our industry, including the consumer shift online and their increased demand for high-performance products. Our brands today continue to deliver strong and profitable growth, while we build powerful engines for our future with new technology products, Oddity Labs, and our new brands."