Oddity CEO Oran Holtzman: There are ‘only 3 reasons’ why a DTC company should expand to stores

This story was originally part of the 2023 Glossy 50 feature. Click here to see all of this year’s honorees.

This year was difficult for the IPO market, given the economic uncertainty for consumer-facing public companies. But Oddity was the one pure-play beauty company that was able to successfully make its public market debut and sustain Wall Street’s initial enthusiasm. The 5-year-old DTC, e-commerce-only company, which operates both makeup brand Il Makiage and skin and wellness brand Spoiled Child, managed to grow its net revenue to $94 million in the third quarter ending September 30, marking a 37% year-over-year increase, according to its latest earnings report. The company’s 2023 guidance anticipates net revenue of $493 million to $497 million. But Oran Holtzman, CEO of Oddity, said the company’s real accomplishment was its acquisition of biotech firm Revela in April for $76 million, which helped to expand Oddity Labs. The 2-year-old lab consists of 20 people and uses AI to generate its molecule discovery process, which can be used in new beauty products. Holtzman spoke with Glossy about the acquisition and the additional projects Oddity has been cooking up.

What is the significance of Oddity Labs to Oddity’s future plans?

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