This acquisition strengthens Maesa’s portfolio of exclusive brands, which now accounts for nearly 50% of the group’s business, with brands such as Flower for Walmart, Circa for Walgreens, Elle for Monoprix and P2 for DM. Thanks to P2 Cosmetics, Maesa is becoming a big player on the German makeup market and reinforces its partnership with DM, Germany’s largest drugstore retailer.
Founded in 2004 as a division of Palmers Textil, the leading Austrian lingerie retailer, P2 Cosmetics sales over makeup 350 SKUs in 1,800 DM stores across Germany. P2 Cosmetics products are developed by a Vienna-based team and manufactured in Germany and France.
“P2 Cosmetics has a proven track record of bringing innovation to the cosmetic category,” said Gregory Mager, Founder and CEO of Maesa Group. “This brand has piqued a strong interest for expansion in the US United States and Canada through an exclusive distribution model. I am excited for one of the most successful exclusive beauty brands in the world to join Maesa Group, and I look forward to continuing to grow the partnership with DM.”
The turnover of the Maesa group grew by 18% in 2014, to reach 105 million euros, compared to 89 million euros in 2013.