Oddity Tech, Owner of Il Makiage, Sets Sights on Growth with New Brand Launch and Upgraded Revenue Forecast

US-based beauty technology company Oddity Tech, owner of the makeup brand Il Makiage and the supplement label SpoiledChild, reported a 25% increase in revenue for the second quarter of 2023 compared to the previous year. The company's net earnings reached $241 million, up from $193 million in the same period last year. Consequently, Oddity has revised its full-year revenue forecast for 2025 upward, now estimating between $799 million and $804 million, surpassing its prior maximum estimate of $798 million. Chief Financial Officer Lindsay Drucker-Mann highlighted the company's international expansion efforts, noting that this marks the ninth consecutive month of revenue growth since going public in 2023. She emphasized that international markets are a significant growth driver, with the company establishing a presence in the UK, Canada, Australia, and Germany, along with operating select stores in Israel. Additionally, testing is underway in Western European countries such as France and Spain. A key growth area for Oddity is skincare, which now accounts for 40% of Il Makiage's revenue. The company plans to introduce a new dermatologically focused brand this fall, targeting common s...