Cosnova Italia – branch of the German company Cosnova Beauty present in Europe, North and South America, the Middle East, Asia, Oceania and Africa with the Essence and Catrice brands distributed in drugstores, food retailers, department stores, perfumeries and fashion retailers, as well as various online business partners – closed 2022 with revenues up 72%.
«After months of the pandemic, the Italian cosmetics market showed a great turnaround in 2022 and we expect high growth in 2023, despite the economic and supply chain challenges we are facing. The Italian market shows enormous potential and we are firmly convinced that we are at the beginning of a successful path» comments Nadine Langen, CEO of Cosnova Italia, who considers that of 2022 a «surprising result. The number of points of sale has also increased with a 16% growth in terms of exhibition metres. We are extremely proud of these results, well above our expectations, which have brought Cosnova among the top four companies for the make-up category in the volume mass market, according to NielsenIQ Italia, MAT Dec 22. Moreover, Essence is among the top 4 brands in the make-up category and is the fastest growing brand according to the Top10 mass market by volume ranking. Catrice also recorded significant growth, after Essence, and is the second most successful brand for one of our customers in the drugstore category, with revenue growth of 47% compared to 2021».
And he adds: «The essence brand is highly appreciated by Italian consumers and retail partners, as the manager explains, and its notoriety has been further strengthened with the dedicated local campaign, the “SOessence” roadshow, a combination of instore activations at various business partners and live sessions on social media. Two essence brand ambassadors and a local influencer answered questions from our customers throughout the Italy tour, which was held at five different retailers located in different Italian cities, to empower Gen Z and find your soul mate in beauty ».
Last year Cosnova continued its sustainability journey and, together with the Climate Partner, developed a global and scientifically based climate strategy, in accordance with the guidelines of the Science Based Targets (SBTi) initiative, aimed at further reducing its CO2 footprint. In December 2022, cosnova’s climate protection objectives were validated and accredited by the SBTi. The company is currently offsetting its CO2 emissions through the Jangi wind farm in India.
In 2022, important milestones were achieved for the reduction of plastic and microplastic particles in the company’s product portfolio. By April 2023, the entire product range will be free of microplastic particles. In addition, the cosmetics manufacturer saved around three hundred tonnes of new plastic last year compared to the previous year. The goal is to introduce 80% recyclable packaging by 2025.
Sustainability is also a priority for the Italian branch which is involved in various initiatives: the company has taken charge of the maintenance and care of a public green area in front of the Milan office. It has also contributed to the creation and preservation of growing forests, the development of renewable energy projects in compliance with the Kyoto Protocol through the Lifegate Zero Impact certification, thanks to the management of three zero impact events in 2022.