Major beauty players have been diverging from their usual playbooks for some time. Over the past few months, L’Oréal and Estée Lauder have plunged into the NFT (non-fungible token) space, for example.

Oddity, the parent company of leading DTC beauty and wellness brands Il Makiage and Spoiled Child, has launched a digital security token – the Oddity Token – on the Ethereum blockchain.

The landmark move marks the first time a company with a non-crypto currency background has allowed potential investors to buy equity ownership.

Beauty IPOs (initial public offerings) have become more frequent over the past year. Olaplex, for example, floated last September in one of the industry’s biggest IPOs to date and Revolution Beauty‘s IPO was listed on the London Stock Exchange.

Oddity also has its eye on an IPO and its ground-breaking security token will allow the company to raise significant funds by allowing investors to get investment pre-IPO. Following the IPO, Oddity Tokens will be changed to A Class common shares of the fast-growing company at a 20 per cent discount on the IPO price.

“By offering this trailblazing token, we are democratising investor opportunity by broadening individual access to Oddity securities, as we continue to disrupt and define the beauty and wellness category,” added Oran Holtzman, Oddity co-founder and CEO.

In January, Oddity raised a further US$130 million in funding, achieving a market valuation of US$1.5 billion. Digital security tokens like the Oddity Token offer a link between traditional markets and cryptocurrencies. They are a regulated asset like bonds and stocks, even though they are created and traded like cryptocurrencies such as Bitcoin.

The Oddity Token is being offered to potential investors from April 26th to May 11th. For more information, go to www.oddity.com

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