UPDATE: Oddity Files IPO

Jun 26th, 2023

Oddity will be listed on the Nasdaq Global Select Market under the ticker symbol “ODD.'

Oddity will be listed on the Nasdaq Global Select Market under the ticker symbol “ODD."

Oddity has filed for an initial public offering to list its shares on the Nasdaq Global Select Market under the ticker symbol “ODD."

Update (July 20, 2023): CNBC points out that Oddity stock closed at $47.53 per share yesterday, translating to a market valuation of $2.7 billion. Shares were initially priced at $35. The share issuance reportedly "raised about $424 million in the offering" for shareholders.

Previously: The number of shares to be offered and the price range for the proposed offering have not yet been determined.

Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC, and Allen & Company LLC are acting as lead book-running managers for the proposed offering. BofA Securities, Barclays Capital Inc., Truist Securities, Inc., JMP Securities, A Citizens Company, and KeyBanc Capital Markets Inc. are acting as book-running managers for the proposed offering.

Coty witnessed growth in prestige and consumer beauty, as well as an uptick in China's prestige sector in its latest quarter.

Coty Q3, 9-month 2024 Growth is Robust, Pointing to Strong Fiscal 2024

Prestige net revenues in Q3 increased 8% on a reported basis and 13% on an LFL basis, per Coty, driven by fragrances, cosmetics and skin care, though slightly offset by the divestiture of the Lacoste license and foreign exchange impacts.

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Olaplex Q1 2024 Sales Decline

During the period, net sales increased 2.5% in the United States and decreased 24.3% internationally.

“I am very excited to welcome Molly to Maesa,' said Piyush Jain, Maesa's CEO. 'Her experience in building purpose-driven brands will be instrumental in elevating our brands’ position within the industry and achieving further success with our consumers and retail partners alike.'

Molly Kennedy Named Marketing Lead for Kristin Ess Hair, Koze Place and Other Maesa Brands

Kennedy previously spent 13 years at Unilever working with Dove Men+Care and Vaseline.

Silvia Galfo was previously the first chief growth officer for the luxe division in the United States.

L’Oréal US Names Silvia Galfo President of L’Oréal Luxe Division

Galfo succeeds Megan Grant who was appointed to the role in May 2019.

“With our third quarter results and fourth quarter outlook, we are confident that the second half of fiscal 2024 will prove to be an inflection point for our company performance,' said Fabrizio Freda, president and CEO.

The Estée Lauder Companies' Fiscal Q3 2024 Results Are an 'Inflection Point'

Mainland China, a challenge amid lingering economic and COVID-19 challenges, grew net sales in the latest quarter, though the prestige sector remains soft, per the company.

Sabinsa Bakuchiol Launch Nyscc Suppliers Day 2024 Adobe Stock 305100159

Sabinsa Debuts Babchiol Retinol Alternative, Highlights Naturals and Nutricosmetics at NYSCC

Babchiol (INCI: Bakuchiol), extracted from Psoralea corylifolia, is presented as a retinol alternative that offers the same anti-aging benefits as retinoids but gentler, and without the risk of adverse effects.

According to L'Occitane, 'The offer is particularly compelling in light of the prolonged low trading liquidity of the company’s shares, which makes it challenging for minority shareholders and vested option holders to sell a substantial amount of shares without adversely affecting the share price.'

L’Occitane International S.A. Receives Offer to Take Company Private

L'Occitane has established an independent board to review the offer, per the company.

The health and well-being sector was boosted by brands like Nutrafol and Olly, while prestige beauty benefited from strength at Tatcha, Hourglass and Living Proof.

Beauty & Well-being Drive Unilever Q1 2024 Results

Top performers included hair care, particularly the Dove brand, Sunsilk and TRESemmé.

Kylie Jenner, founder of Kylie Cosmetics, said, 'I am so excited to launch Kylie Cosmetics in India—I created Kylie Cosmetics to give my fans access to the makeup products that I use and love, and I can't wait to share my collection with all my fans in India.'

Kylie Cosmetics Expands into India

The brand is available exclusively in 25 Sephora India stores nationwide and online on www.sephora.in.

'Kiko's unrivaled scale, first-to-market advantage, and ability to provide unmatched product offerings at accessible prices uniquely positions the company for global success,' said Arabella Caporello, a partner in L Catterton's Europe fund. 'We have significant experience scaling leading brands in Europe, and we look forward to working alongside CEO Simone Dominici and his team to capture the Company's incredible potential.'

L Catterton Takes Majority Stake in Kiko Milano, Eyes US Expansion

The 27-year-old brand retails in 1,100 stores in 66 countries and, in 2023, recorded net revenue of about 800 million euros, representing almost 20% year-over-year growth.