Il Makiage owner Oddity bucks the beauty slump with record sales

8 hours ago 4

Oddity Tech, the owner of makeup brand Il Makiage and wellness brand SpoiledChild, reported $647 million in net revenue for the full year 2024, representing a 27% growth from 2023’s $509 million in net revenue. The company, which went public in 2023, achieved $124 million in net revenue in the fourth quarter, a 27% increase from the same period in 2023. According to Oddity, Il Makiage contributed more than $500 million in revenue in 2024.

Those results stand in contrast to recent earnings from big beauty players like Coty and Estée Lauder, which reported declining revenues for the second quarter of fiscal year 2025 largely due to falling sales in color cosmetics. But it is not the only company to buck the trend: E.l.f. Beauty, owner of the affordable cosmetics brand E.l.f., reported 31% growth for the third quarter of 2025.

Oddity CFO Lindsay Drucker attributes much of the success of Il Makiage, at a time when makeup brands are struggling, to its digital-first business.

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