The German group specialising in colour cosmetics, which markets the brands Essence Makeup and Catrice, has announced record results for fiscal year 2021, well ahead of market trend.
The company announced a 15% growth of its global net sales in 2021, thus surpassing pre-pandemic numbers.
"Cosnova remains fully on track for success, despite the tense global situation in another challenging 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 were one of the main growth drivers for the company, which is celebrating its 20th anniversary this year. Cosnova Beauty’s e-commerce business grew 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 performed particularly well in the U.S. market, delivering over 40% growth fuelled by e-commerce, digital marketing, and the expansion of its social media presence on channels such as Instagram and TikTok. Essence Makeup generated double digit percent growth, increased market share, and record-breaking sales performance at key retailers including Ulta and Amazon.
"Essence Makeup has enjoyed great success with Ulta and Amazon, and continues to be a top performer for both retailers as beauty enthusiasts seek high-quality products at an affordable price point,” said Jeffery Wagstaff, CEO of Cosnova Inc. "We are incredibly proud to have the number one best-selling beauty and personal care product on Amazon with essence’s Lash Princess False Lash Effect Mascara and will continue to expand our position on the site even further in 2022."
Headquartered in Sulzbach, Germany, Cosnova Beauty is a family-owned company founded by Christina Oster-Daum and Javier González in 2002. At the end of the fiscal year 2021, Cosnova Beauty had around 650 employees around the world. Its cosmetic brands Essence and Catrice are sold in over 80 countries in Europe, North and South America, the Middle East, Asia, Oceania and Africa.
