Next Sales Target for Cosnova: One Billion Euros
Cosnova Achieves Significant Growth in 2023 and Is Ready to Face a Difficult Economic Environment
The cosnova cosmetics group closed the 2023 financial year with revenues of 817 million euros. This amounts to an increase of 32 per cent compared to the previous year for the manufacturer who owns brands such as essence and Catrice.
Double-Digit Growth in All Regions
The company grew by 36 per cent in its home market of Germany. Across the rest of Europe, sales increased by 38 per cent. Growth in the global markets was at 24 per cent.
The manufacturer attributes the size of these increases to a number of factors, including the adaptation of the essence and Catrice product ranges to local markets. Furthermore, the beauty supplier managed to extend its shelf presence and strengthen its distribution networks in the 90 countries it serves.
Improving Supply Chain Resilience With a Larger Warehouse
The products sold under the essence and Catrice brands have been 100 per cent free from microplastics since March 2023 and cosnova sees this as a milestone for its product range. The manufacturer has thus successfully fulfilled the current EU requirements for products with added microplastics ahead of the deadline.
Although the present global economic conditions are very challenging, the company is optimistic about further growth and is now aiming for a sales revenue of one billion euros. Among other things, the group is planning to extend its warehouse in order to ensure resilience in its supply chain.