Cosnova Tackles Future Growth

BOLOGNA, Italy — Cosnova’s growth spurt continues. The 14-year-old German company, parent to the trendy but affordable Essence and Catrice brands, has been showing at Cosmoprof for about a decade, and in that time, it has shot up the charts and landed among the world’s best-selling cosmetics firms. In 2014, Cosnova recorded a 13 percent increase in turnover over the previous year, with net sales of 279.3 million euros, or about $371 million at average exchange. Javier González, general manager and co-owner of Cosnova with Christina Oster-Daum, said this year the company expects to again see double-digit growth. “Our largest market is Germany, our home market,” with close to 50 percent of sales, González said, adding: “There is a lot of momentum in our biggest market, but obviously we have many projects in many places.” To wit: Essence, which accounts for the lion’s share of Cosnova’s sales, is now available in more than 80 countries. González said that to successfully meet future goals, Cosnova has just added two senior figures to its roster: Hilko Prahl, who had been at the company for seven years, was promoted to chief sales officer, while Jeffrey Wagstaff has joined the firm as general manager of Cosnova Inc., the

Follow WWD on Twitter or become a fan on Facebook.

Read More...