German cosmetics company cosnova Beauty reported new records for the fiscal year of 2014, with the highest turnover in the history of the company, increased distribution channels and the highest number of employees since the company was founded.
The company recorded a 13% increase in sales turnover during the past fiscal year, surpassing the previous year’s results of 247.5 million euros and achieving net sales turnover of 279.3 million euros.
“Since establishing the company in 2001, we have ended each fiscal year with a double-digit growth in sales. This continued growth reaffirms that both of our cosmetics brands, essence and CATRICE, remain a firm favourite of women of all ages around the world,” said Christina Oster-Daum, co-owner and managing director of cosnova Beauty.
International expansion
In 2014, essence entered two major markets - the UK and France and is now available in almost 80 countries while CATRICE is available in over 50 countries.
“In 2014, our sales turnover and total earnings increased significantly and we have gained market share. In Germany, we achieved double-digit growth in sales despite minimal growth in the German market. Internationally, we achieved considerable, above-average growth in sales. Foreign markets generated over 50% of our total sales,” added Javier González, co-owner and managing director of cosnova Beauty.
Positive outlook and investments
For the fiscal year 2015, the three managing directors Christina Oster-Daum, Javier González and Mathias Delor plan to achieve yet another double-digit growth in sales. “This is a realistic objective as our national and international business is continuing to develop superbly and we expect a further increase in volume as a result of our expanded distribution and increasing sales numbers at the existing POS. In order to tackle this logistical challenge successfully and continue to ensure prompt deliveries to our partners around the world, we are already investing in the construction of a large, modern high-bay warehouse with sufficient space to store 40,000 palettes, which should be completed by the beginning of 2016,” explained Mathias Delor.
