Positive Performance for Colour Cosmetics
Cosnova Beauty Benefits From E-Commerce and Exports
Cosnova Beauty achieved 15 per cent growth with 467 million euros sales revenue in the last financial year. According to the colour cosmetics manufacturer, it was able to increase sales by 5 per cent compared to pre-pandemic levels from 2019, contrary to the market trend. The company is the market leader in Germany with a market share representing 39.6 per cent of sales in the colour cosmetics sector, it adds.
Highest Growth Rates in the Middle East and North Africa
The manufacturer attributes its growth mainly to the expansion of its online business and positive developments in significant export markets. According to its figures, online business grew by 50 per cent in 2021 compared to 2020, and by over 130 per cent compared to 2019.
The strategy of focusing on online trading and B2C e-commerce business partnerships was particularly successful in the USA and China, the company explains. Growth rates were above 40 per cent in the USA, 22 per cent in China and 25 per cent in Western Europe. The Middle East and North Africa were the top performers with over 50 per cent growth.
Comprehensive Digital Agenda for 2022
The manufacturer also focused on launching its "Connected Beauty" platform last year. Cosnova aims to use the platform to connect retailers and consumers with the brand and offer digital solutions that are specially tailored to meet consumer needs. There are additional digital services planned for this year. The cosmetics provider hopes to strengthen its social media presence using channels such as Instagram and TikTok. Social commerce, live shopping events and augmented reality tools are also on the digital agenda.
On the topic of sustainability, the company says it was able to avoid the use of microplastics in the majority of its products in 2021. It also claims to have reduced the amount of new plastic by 300 tons in 2021 compared to the previous year. The company is aiming for zero microplastics for the entire product range by March 2023, and for at least 50 per cent of packaging to be made from recyclable or renewable materials by 2025.
Source, photo: Cosnova