The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
The parent company of makeup brand Il Makiage and Gen-Z skin care brand SpoiledChild reported $94 million in net revenue in the third quarter ending Sept. 30. Adjusted EBITDA for the quarter was $21 million, up 227 percent year-over-year.
The strong results were attributed to profitable growth for both Il Makiage and SpoiledChild across regions and product categories, with stronger repeat sales than its earlier outlook predicted.
Oddity Tech has increased its net revenue expectation for the year to a range of $493 million and $497 million, up from its previous estimation of $475 and $480 million.
Oddity’s stock rose 9 percent in after-hours trading.
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Oddity Expects Third Quarter Results to Surpass Guidance
The parent of Il Makiage and Spoiled Child expects to deliver net revenue growth of $89 million.
While the economic woes have certainly weighed on sales, analysts say the main issue facing the multinationals is their slowness to adjust to the shifting priorities of consumers, who have become more discerning about what they buy and are increasingly finding that local brands are more suited to their needs.
Scenting ultra-exclusive events is beauty’s next big branding opportunity.
Multiple social platforms announced their next generation of creators this week, but TikTok creates overnight beauty stars like no other.
With no advertising, PR or e-commerce, the store in London’s Soho is fast-becoming a cult classic. The brand is weighing how to expand without losing its magic.