Dive Brief:
- After raising capital last month, consumer tech platform Oddity launched its second brand, SpoiledChild, on Wednesday, according to a press release emailed to Retail Dive. The wellness brand debuted its first hair care and skin care products on its website on Wednesday.
- The brand uses a proprietary machine-learning engine to recommend products or sequences of products for every customer based on their needs. SpoiledChild packages its products in reusable dispensers and recyclable capsules, per the announcement.
- In a statement, Oran Holtzman, co-founder and CEO of Oddity, said that the brand plans to offer a line of supplements in the next few months.
Dive Insight:
In its announcement, Oddity pitched SpoiledChild as a brand that seeks to avoid the pro-aging or anti-aging rhetoric but instead offers personalized hair and skin care products that help shoppers reach their individual goals around aging. The company joins other beauty brands like Function of Beauty and Clinique that are trying to deliver customized beauty products at scale.
"There is an entirely new generation of consumers that are redefining the rules of aging on their own terms," Suzanne Fitzpatrick, co-general manager of SpoiledChild, said in a statement. "In our research, beauty and wellness consumers of all ages told us that aging was top-of-mind, but that they were overwhelmed by the number of legacy products on the market yet underwhelmed by their performance."
The launch of SpoiledChild follows the debut of its sister brand a couple of years ago. Oddity launched Il Makiage, a DTC beauty brand with its own foundation-matching technology, in 2019, boasting a 90% accuracy rate for the service at the time. Il Makiage last year surpassed $260 million in revenue, which Holtzman attributed, in part, to its proprietary technology. Now, the company wants to do the same with SpoiledChild.
"SpoiledChild is our second homegrown independent brand and has been developed leveraging the existing strengths of our scalable, rapidly-advancing technology platform, including our AI and machine learning capabilities and our online-only approach," Holtzman said in a statement.
SpoiledChild's debut comes after parent company Oddity raised $130 million in funding last month from Thomas Tull, Franklin Templeton, Fidelity Management & Research Company and First Light Capital Group, among others. The fundraise placed the company's valuation at $1.5 billion, per a company press release.
via https://www.aiupnow.com
Tatiana Walk-Morris, Khareem Sudlow
