Oddity, the parent company behind Il Makiage Makeup and Spoiled Child skin care, has officially filed to go public through an IPO.
Oddity, backed by private equity firm L Catteron, has teased the idea of going public since at least 2020. According to an F-1 prospectus filed with the SEC, Oddity has not yet listed an offering price per share. The IPO is the culmination of a rapid period of growth for Oddity, which has included the acquisition of two companies in 2021 and 2023, and the launch of skin-care brand Spoiled Child in 2022. The F-1 also debuts amid a modestly improving IPO market where Mediterranean restaurant chain Cava IPO’ed on June 15 and nearly doubled its trading debut. Furthermore, three companies are preparing to tap the public markets this week. Approximately $1.5 billion is expected to be raised in IPOs on U.S. exchanges in June, marking the first consecutive months with more than $1 billion sold since last fall, according to data compiled by Bloomberg.
Per Oddity’s F-1, numbers show the direct-to-consumer company has been profitable annually since at least 2020. In fiscal 2022, Oddity brought in $324.52 million in sales and saw a net income of $21.73 million. Spoiled Child, launched in February 2022, generated $25.9 million in net revenues during the year ended December 31, 2022.