Waldencast has reported a year of strong growth, with net revenue reaching US$273.9m in 2024, reflecting a 27.5% increase in comparable net revenue.
The company also doubled its adjusted EBITDA to $40.3m, underpinned by brand expansion, innovation and increased marketing investment.
Speaking to Cosmetics Business, Waldencast CEO Michel Brousset highlighted the company’s dual-brand strategy as key to its success.
“Our performance in 2024 was driven by a combination of heightened brand awareness, significant product innovation, and an expanding international footprint,” he said.
Milk Makeup had a particularly successful year, propelled by viral product launches and increased brand presence among Gen Z consumers.
“We have seen fantastic momentum, particularly with our Cooling Water Jelly Tint Blush + Lip Stain,” Brousset explained.
“Our marketing investment and expansion into new retailers, including Boots and Space NK and Sephora’s UK debut, have significantly increased our reach.”
Further strengthening its position, Milk Makeup entered Ulta Beauty in the US, rolling out across 600 stores.
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