Il Makiage’s Parent Company Sets Ambitious $1.7 Billion Valuation Target in IPO — Retail Bum

Oddity, Il Makiage and SpoiledChild’s parent company, is aiming for a $1.69 billion valuation through its initial public offering (IPO).

In its F-1 filing submitted to the U.S. Securities and Exchange Commission on Monday, July 10, 2023, the company said it is offering a total of 10,526,314 Class A ordinary shares. Out of these, Oddity itself is offering 1,754,385 shares, while certain stockholders are offering 8,771,929 shares. The expected price range per share is between $27 and $30, which would help the company raise up to $316 million.

The consumer and beauty tech company expects net proceeds of approximately $41 million after deductions from the offering. This calculation assumes that the shares will be sold at the midpoint price of $28.50, according to a company press release.

A total of 56,545,702 outstanding ordinary Class A and Class B shares are expected following the completion of the offering.

Oddity first revealed its plan to go public in June 2023, following consistent net income for three years leading up to 2022. Last year, it recorded a net income of $21.7 million and net revenue of $324.5 million.