Germany’s Cosnova Magnificence has concluded the monetary yr 2024 with web 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 dimensions of its enterprise over the past three years.
World success
The group markets its two manufacturers in Europe and in quite a few nations 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 development. Over the previous three years, the corporate has seen a big enhance in gross sales throughout the nation, pushed by robust partnerships with its prime 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 measurement, pushed by influencer endorsements and robust on-line gross sales by Amazon, and social purchasing platforms reminiscent of Flip and TikTok Store, all of which collectively account for a majority of the model’s gross sales.
In France, Cosnova posted a 62% development in gross sales.
“All our indicators are inexperienced: fast market share development in factors of sale carrying the model, increasing distribution pushed by the belief of latest retailers, and a surge in Essence’s model consciousness, fueled by robust social media visibility. The numbers communicate for themselves—French shoppers 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 grow to be the No. 1 selection in France,” stated Soazig Le Prince, Basic Supervisor of Cosnova France.
Investments in retail area
To additional enhance the attractiveness and relevance of its manufacturers, Cosnova invested in a complete modernization of its retail area in 2024. Round 25,000 meters of retailer counters had been modernized, which represents about 70 p.c of the stationary retail area of Essence in magnificence retailers worldwide. This rollout is probably the most intensive within the firm’s historical past up to now. The Catrice model will observe in 2026.
Skincare enlargement
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 development on the skincare market in 2025.
AI throughout all operations
Cosnova additionally units trade requirements by way of digital transformation. Within the enterprise yr 2024, the corporate carried out a complete AI technique for using generative AI in all areas of the corporate. The intention of this technique is to determine AI as a supporting device for workers, permitting them to work in an much more customer-centric and artistic method.
“In 2024, Cosnova has as soon as once more achieved file gross sales. On the identical time, we’ve persistently invested within the strategic improvement of our manufacturers, our portfolio and our firm. Which means that we’re in a perfect place to efficiently face and meet future market necessities,” says Javier González, co-founder and President of Cosnova.
