Southern and Eastern European markets boost growth
cosnova Beauty has announced record sales growth of 24% for 2011, with sales reaching €165.7m. The growth was attributed to significant market share gains in established markets such as Germany, as well as expansion into new countries in Europe.
The company’s essence brand performed particularly well, achieving a volume market share of 26% in Germany in 2011, according to AC Nielsen, while its recently relaunched Catrice brand almost doubled its market share in the country, from 0.9% in 2010 to 1.6% in 2011.
“As in previous years, our business in central and Eastern Europe has developed extremely well,” commented Javier González, owner and md, cosnova Beauty. “Despite the international economic and financial crisis, we were able to continue the rapid growth of 2010 in southern Europe, where we achieved an increase in turnover of over 30% in Italy and an increase in turnover of over 40% in Spain.
The company plans to achieve further double-digit growth in annual sales for 2012, with a focus on the Middle East, Asia, Latin America and Africa.