cosnova Beauty reports record results sales in 2010 up 46%

German cosnova Beauty, founded in 2001, has significantly exceeded their targets for the 2010 business year. With a net turnover of € 133.3 million (ca. USD 177.0 million), they surpassed their previous year’s annual results by 46 percent. Furthermore, they increased market share in Germany and internationally, as well as entered new markets in and outside of Europe.

 

According to AC Nielsen, essence achieved a volume market share in Germany of 23.7% and a value market share of 9.7%, strengthening its position as the top-selling cosmetics brand in the market. “Furthermore, essence attained volume market leadership in 2010 in Switzerland, Austria, the Netherlands, Ireland, Hungary, Croatia, Bosnia and Slovenia, as well as a strong position in several other Western and Eastern European countries. Thereby further expanding its position as the top-selling brand in Europe in the low-price segment,” the company informed.

 

One of the objectives of cosnova Beauty for 2011 is to continue strengthening its market leadership position. Owner and managing director of cosnova Beauty, Christina Oster-Daum comments: “Since last year, the successful listing of our brands essence and CATRICE at Douglas has opened up a new sales channel, which we intend to further develop. At the same time, we aim to increase the space allocated to essence to two meters in as many of our trade partners’ stores as possible, while broadening distribution of our new and innovative CATRICE range.”

 

All the signs indicate growth in terms of brand strategy too: “essence will continue to develop the professional nail product range “studio nails”, which was introduced last year, with further innovations such as the “essence better than gel nails”. A new skin care range - “my skin” - with fruit and plant combinations specially developed for young skin will also be launched.

Furthermore, the relaunch of our second brand, CATRICE, will be fully completed in 2011. CATRICE will offer innovative impulses and trends to the cosmetics market”, says Christina Oster-Daum and continues: “We want to keep proving that trends, innovations and excellent quality do not have to be expensive.”

 

For the 10-year anniversary coming up this year, the owners and managing directors, Christina Oster-Daum and Javier González, plan to achieve yet another double-digit growth in sales. Javier González: “This is a realistic objective: our business in Central and Eastern Europe is continuing to develop robustly. In Southern Europe, we expect a continuation of the rapid growth of 2010, when we quintupled our turnover in Italy and doubled our turnover in Spain. Following a successful introduction at ULTA in the USA in 2010, the foundations have been laid for a successful business expansion in North America.

The imminent listing with Shoppers Drug Mart in Canada in the summer of 2011 is another decisive step in North America. At the same time, we will pursue further development in the European market, as well as expand in the Middle East, Asia, Latin America and Africa.”

 

Currently, cosnova Beauty distributes its products to over 35 countries in Europe, North America, the Middle East and Africa. The brands essence and Catrice are available in approximately 14,000 sales outlets. The company’s clients include pharmacies, drugstores, food retailers, department stores and perfumeries.