Germany’s Cosnova Beauty has concluded the financial year 2024 with net sales of 954 million euros, up 17 percent compared to the previous year. With its two brands, Essence and Catrice, the company has doubled the size of its business over the last three years.
Global success
The group markets its two brands in Europe and in numerous countries in North and South America, the Middle East, Asia and Africa – and continues to increase its market share in all regions.
Now serving as its second-largest market, the U.S.A. has played an instrumental role in the company’s growth. Over the past three years, the company has seen a significant increase in sales across the country, driven by strong partnerships with its top three trading partners: Ulta Beauty, Amazon, and Target. Notably, Essence expanded into over 250 new Target locations last year, reinforcing its position as a go-to mass beauty brand in the U.S. Meanwhile, Catrice has doubled in size, driven by influencer endorsements and strong online sales through Amazon, and social shopping platforms such as Flip and TikTok Shop, all of which together account for a majority of the brand’s sales.
In France, Cosnova posted a 62% growth in sales.
“All our indicators are green: rapid market share growth in points of sale carrying the brand, expanding distribution driven by the trust of new retailers, and a surge in Essence’s brand awareness, fueled by strong social media visibility. The numbers speak for themselves—French consumers are showing immense enthusiasm for Essence, drawn to its exceptional premium quality at under 3 euros. This only strengthens our belief that our brand has the potential to become the No. 1 choice in France,” said Soazig Le Prince, General Manager of Cosnova France.
Investments in retail space
To further increase the attractiveness and relevance of its brands, Cosnova invested in a comprehensive modernization of its retail space in 2024. Around 25,000 meters of store counters were modernized, which represents about 70 percent of the stationary retail space of Essence in beauty shops worldwide. This rollout is the most extensive in the company’s history so far. The Catrice brand will follow in 2026.
Skincare expansion
In the past financial year, Cosnova expanded in the skincare category with INAO Skin Care by essence and Farm loves Face. The company plans to continue to drive growth on the skincare market in 2025.
AI across all operations
Cosnova also sets industry standards in terms of digital transformation. In the business year 2024, the company implemented a comprehensive AI strategy for the use of generative AI in all areas of the company. The aim of this strategy is to establish AI as a supporting tool for employees, allowing them to work in an even more customer-centric and creative manner.
“In 2024, Cosnova has once again achieved record sales. At the same time, we have consistently invested in the strategic development of our brands, our portfolio and our company. This means that we are in an ideal position to successfully face and meet future market requirements,” says Javier González, co-founder and President of Cosnova.
