Online sales now account for one-tenth of Cosnova’s overall revenue
The German group specializing in color cosmetics, which markets the brands Essence Makeup and Katherineannounced record results for fiscal year 2021, well ahead of the market trend.
The company announced a 15% growth in global net sales in 2021, surpassing pre-pandemic figures.
“Cosnova remains fully on track for success, despite the tense global situation in another difficult year – which is why we are very pleased with this result,“says Mathias Delor, Managing Director and COO of Cosnova GmbH.
Online sales drove growth
Online sales have been one of the main growth drivers for the company, which celebrates its 20th anniversary this year. Cosnova Beauty’s e-commerce business grew by more than 50% in 2021 compared to 2020, and by more than 130% compared to 2019, now accounting for approximately one-tenth of global sales.
Cosnova Beauty has done particularly well in the US market, recording over 40% growth fueled by e-commerce, digital marketing and expanding its social media presence on channels such as Instagram and TikTok . Essence Makeup generated double-digit percentage growth, increased market share and record sales performance at major retailers including Ulta and Amazon.
“Essence Makeup has enjoyed great success with Ulta and Amazon, and continues to be one of the top performers for both retailers as beauty enthusiasts seek high quality products at an affordable price,” said Jeffrey WagstaffCEO of Cosnova Inc.”We’re incredibly proud to have the #1 selling beauty and personal care product on Amazon with essence’s Lash Princess False Lash Effect Mascara and we’ll continue to expand our position on the site even further in 2022.“
Based in Sulzbach, Germany, Cosnova Beauty is a family business founded by Christina Oster-Daum and Javier González in 2002. As of the end of fiscal year 2021, Cosnova Beauty had approximately 650 employees worldwide. Its Essence and Catrice cosmetic brands are sold in more than 80 countries in Europe, North and South America, the Middle East, Asia, Oceania and Africa.