SpoiledChild is ready to talk numbers.
The brand was launched by Oddity, also the parent company behind Il Makiage, in February 2022, with 17 refillable stock keeping units across hair care and skin care, priced from $45 to $95. Since its launch, it has added ingestibles, including E27 Extra Strength Liquid Collagen and L30 Biotin & Multi-vitamin Hair Gummies.
The popularity of these products has helped it to rake in $48 million in gross sales in its first year, its parent company Oddity said, although it declined to provide net figures. According to the company, SpoiledChild has broken even and will be profitable in its second year, while Oddity, which counts strong technological capabilities as its key differentiator, saw gross sales of $380 million in 2022.
“Our mandate is truly to disrupt the global beauty and wellness market, which we think is one of the most attractive markets in the world, through technology and innovation,” Lindsay Drucker Mann, Oddity’s global chief financial officer, told WWD. “We believe it’s the most successful dtc brand launch in history across any category.”
Tech features include SpoiledChild’s online quiz, supported by SpoiledBrain, an AI-fueled backbone to its product recommendations, which took 50,000 hours to develop with the rest of the website.
At the time of the launch of SpoiledChild, founder Oran Holtzman told WWD that he plans to open a new brand every 18 months, although it is yet to announce details for its next venture.
Holtzman and his team relaunched Il Makiage in 2018 after receiving a $29 million investment from L Catterton, which bought a 35.8 percent stake in the business in 2017. In 2018, the brand spent $8 million on advertising around its relaunch with an anti-minimalism campaign that included slogans “minimalism is dead” and “Sorry, I don’t speak low maintenance.”
WWD previously reported that in 2020 Il Makiage was working with Centerview Partners to explore deal options, including a potential sale or initial public offering. While it confirmed this at the time, it has not made any public comments on a potential IPO since.
“Our plan is to continue to launch new brands, using our technology and our user data to attack more categories, more products, more consumer pain points, more needs,” continued Drucker Mann. “We have 40 million users on our platform who give us a lot of information about themselves: their beauty routines, the categories and ingredients they care about, what products they are missing. And we’re leveraging this information and our in-house technology to service them with more products and categories and capabilities.”