1 year ago
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By all accounts, German beauty conglomerate Cosnova, which owns affordable mass color cosmetics lines Essence and Catrice, is in its largest season of growth since it launched in 2001.
According to the brand, it just completed its 11th quarter of net sales growth and its second year of year-over-year growth exceeding 30%. Much of this was driven by international sales: Cosnova’s global net sales increased 32% in 2023 with 26% growth in North America, according to the brand. Cosnova told Glossy it just completed the largest sales year in its 23-year history with €816 million ($894 million) in 2023 net sales.
In the U.S., Catrice and Essence are both available direct-to-consumer and on Amazon. Essence Cosmetics also entered Ulta Beauty’s stores and e-commerce site in 2009 and doubled its product assortment in 2018, before entering more than 300 Target doors in 2022. Further brick-and-mortar expansion is planned for 2024.
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