Cosnova sees 17% gross sales progress in 2024, doubling its dimension in three years

Germany’s Cosnova Magnificence has concluded the monetary yr 2024 with internet gross sales of 954 million euros, up 17 p.c in comparison with the earlier yr. With its two manufacturers, Essence and Catrice, the corporate has doubled the scale of its enterprise during the last three years.

World success

The group markets its two manufacturers in Europe and in quite a few international locations in North and South America, the Center East, Asia and Africa – and continues to extend its market share in all areas.

Now serving as its second-largest market, the U.S.A. has performed an instrumental function within the firm’s progress. Over the previous three years, the corporate has seen a major improve in gross sales throughout the nation, pushed by sturdy partnerships with its high three buying and selling companions: Ulta Magnificence, Amazon, and Goal. Notably, Essence expanded into over 250 new Goal places final yr, reinforcing its place as a go-to mass magnificence model within the U.S. In the meantime, Catrice has doubled in dimension, pushed by influencer endorsements and powerful on-line gross sales by Amazon, and social purchasing platforms akin to Flip and TikTok Store, all of which collectively account for a majority of the model’s gross sales.

In France, Cosnova posted a 62% progress in gross sales.

“All our indicators are inexperienced: speedy market share progress in factors of sale carrying the model, increasing distribution pushed by the belief of recent retailers, and a surge in Essence’s model consciousness, fueled by sturdy social media visibility. The numbers communicate for themselves—French customers are exhibiting immense enthusiasm for Essence, drawn to its distinctive premium high quality at below 3 euros. This solely strengthens our perception that our model has the potential to develop into the No. 1 alternative in France,” stated Soazig Le Prince, Common Supervisor of Cosnova France.

Investments in retail house

To additional improve the attractiveness and relevance of its manufacturers, Cosnova invested in a complete modernization of its retail house in 2024. Round 25,000 meters of retailer counters have been modernized, which represents about 70 p.c of the stationary retail house of Essence in magnificence outlets worldwide. This rollout is essentially the most in depth within the firm’s historical past to this point. The Catrice model will observe in 2026.

Skincare growth

Up to now monetary yr, Cosnova expanded within the skincare class with INAO Pores and skin Care by essence and Farm loves Face. The corporate plans to proceed to drive progress on the skincare market in 2025.

AI throughout all operations

Cosnova additionally units trade requirements when it comes to digital transformation. Within the enterprise yr 2024, the corporate carried out a complete AI technique for the usage of generative AI in all areas of the corporate. The intention of this technique is to ascertain AI as a supporting software for workers, permitting them to work in an much more customer-centric and inventive method.

“In 2024, Cosnova has as soon as once more achieved report gross sales. On the identical time, we’ve persistently invested within the strategic growth of our manufacturers, our portfolio and our firm. Which means that we’re in a super place to efficiently face and meet future market necessities,” says Javier González, co-founder and President of Cosnova.