Cosnova Beauty smashes targets for 2010 with 46% sales growth
German cosmetics company eyes North America for future success
German cosmetics company Cosnova Beauty has announced very positive results for 2010, reporting a net turnover of €133.3m, a growth of 46% on 2009’s figures. The company also says it has increased its market share internationally, as well as in its home market, and that this is an area that it is increasingly looking to focus on.
Mass market beauty brand Essence, Cosnova Beauty’s most popular line, also went from strength to strength in 2010 with AC Nielsen claiming that the brand achieved a market share of 23.7% in volume terms and 9.7% in value terms in its home market. This was complemented by further expansion in countries such as Hungary, Croatia and Slovenia.
Cosnova Beauty is celebrating its ten year anniversary this year and ceo and managing director, Christina Oster-Daum and Javier González, plan to achieve more double-digit sales growth this year to celebrate this, saying: “This is a realistic objective – our business in Central and Eastern Europe is continuing to develop robustly and in southern Europe we expect a continuation of the rapid growth of 2010.
“And following a successful introduction at ULTA in the US last year, the foundations have been laid for a successful business expansion in North America, with our imminent listing of Shoppers Drug Mart in Canada this summer another decisive step in this direction.”