L Catterton-backed beauty company Oddity debuts on the NASDAQ

• The opening price was $35 per share, which was above the initial range of $27 to $30 per share
• At the IPO price, Oddity had an initial market capitalization of approximately $2.3 billion
• L Catterton initially invested in Oddity in 2017

Consumer tech company Oddity, which is backed by L Catterton, has gone public. The stock began trading July 19, 2023 on the NASDAQ under the ticker “ODD.”

The opening price was $35 per share, which was above the initial range of $27 to $30 per share. At the IPO price, Oddity had an initial market capitalization of approximately $2.3 billion.

Oddity is the parent company of beauty and wellness brands IL Makiage and SpoiledChild.

L Catterton initially invested in Oddity in 2017.

“When we made our investment in Oddity, we saw exceptional leadership and an extraordinarily rigorous, data-driven new product development process. They continued to invest in their data science, AI, hyperspectral recovery, and science capabilities to develop high performance products culminating in a passionate following,” said Michael Farello, a managing partner of the growth fund at L Catterton in a statement. “Today’s milestone is a testament to the team’s unwavering commitment to redefining and building the future of beauty and wellness.”

L Catterton invests in the consumer sector and is managing approximately $33 billion of equity capital. The firm was founded in 1989.