Although 2022 was a difficult year impacted by the energy crisis and the scarcity of raw materials, there was no shortage of memorable events that occurred in the last 12 months whose common denominator was the desire to keep growing as a leading supplier of cosmetic brands and the most important retailers on the market
The Cosmewax team summarises 2022 in their own words with 10 milestones that defined the course of the year.
1. "Business growth: Our entry into new markets and expansion in those where we are already present allowed us to close the year with a billing total of €33.8 million. This amounts to a growth rate of 0.10%.
2. Record in the development of new products: In 2022 we achieved a record number of new products and adaptations developed. The total was more than 700 new formulas among depilatory and skincare products. Furthermore, we launched more than 100 new products to the market.
3. Resounding success at cosmetic exhibitions. Following the pandemic, we were able to return to Cosmoprof Bologna and Cosmoprof Asia. We strengthened our relationships with our current clients and began to build new projects with potential clients. In addition, our serums with encapsulated vitamins were a success at CosmoTrends Bologna and Singapore after they were selected by Beautystreams as examples of the cosmetic innovation that will drive the market.
4. International expansion of our brand Numee: Our cosmetics brand Numee has experienced great international growth. Numee closed 2022 with a presence in more than 25 countries at different points of sale.
5. Timely deliveries guaranteed. In 2022 we maintained the guarantee of an efficient supply chain. Despite the year being difficult in terms of maritime traffic, transport strikes, the energy crisis and a scarcity of raw materials and components, our compliance percentage for firm orders delivered on time was over 95%.
6. Customer satisfaction. The satisfaction survey completed by our clients at the end of 2022 saw us gain scores that we can be proud of. These included a 9 in overall satisfaction with our products and a 9.2 in cosmetic regulatory advice.
7. Commitment to quality and the environment. In 2022 we renewed the following certifications: ISO 9001/ISO14001/ISO22716, RSPO, IFS HPC (higher level rating), BRCGS (with maximum rating [AA]).
8. Commitment to the environment. In 2022 we achieved the ISO 50001 certification for the first time, with the view to aligning sustainability with our strategic plan.
9. More and improved cosmetic packaging. We’ve worked to include more packaging with recycled content, increase the percentage of PCR material in packaging, and we’ve also worked to include natural options for supports and improve the recyclability of flexible packaging.
10. EcoVadis Gold Medal. Thanks to our efforts to make sustainability one of the pillars in our long-term business strategy, Cosmewax was awarded a Gold Medal by EcoVadis in recognition of our achievements in SUSTAINABILITY.
In summary, 2022 was a fantastic year for Cosmewax so now we need to celebrate our successes and start working to ensure 2023 brings even more growth, more innovation, presence in new markets, and lasting, fruitful partnerships with our clients and suppliers."