Why Beauty Company Oddity is Poised For a Hot IPO

A pop-up event for the 2018 launch of Oddity's IL MAKIAGE brand in New York City. Photo by Getty.

Cosmetics company Oddity Tech, which filed to go public last week, doesn’t need the stock market to continue rallying for its public debut to take off. Instead, Oddity can ride a tsunami of investor enthusiasm for other beauty and skin care stocks whose businesses have been lifted by TikTok popularity.

One of the best stock market performers of the past few years is Elf Beauty, whose shares have risen 1,100% since 2020, according to Koyfin. It even managed to rise during 2022, unlike most other stocks. Both Elf and Oddity have built profitable businesses selling trendy cosmetics that go viral thanks to creators on TikTok and Instagram.