Celebrates Growth in U.S. and Global Influence
cosnova Beauty, the powerhouse behind the beloved cosmetics brands essence makeup and Catrice Cosmetics, is excited to announce that it has surpassed $1 billion in revenue in 2024. This major milestone highlights the company's rapid international expansion and growing influence both domestically in Europe and globally as well, with the U.S. now serving as its second-largest market.
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This revenue milestone highlights cosnova's emergence as a major force in the beauty industry, powered by continuous affordable innovation, deep consumer loyalty, and strategic retail partnerships. “We are immensely proud to reach this $1 billion milestone, which reflects the global resonance of our brands and products and our deep understanding of today's consumers and retail landscape,” said Christina Oster-Daum, Co-Founder and President of cosnova. “This achievement aligns with our mission to make trend-driven, quality beauty accessible to everyone. While the democratization of the beauty market has become a popular claim among brands today, cosnova has embodied this credo since its founding. As a true first mover, we have consistently delivered on this mission for over 20 years, offering genuinely affordable products that set us apart in the beauty space.”
On a global scale, cosnova's performance has been remarkable, with a 17% increase in net sales over the past year, solidifying its position as the second-largest beauty provider worldwide by volume. Strong growth across nearly every region, with revenue doubling in just three years and driven by the success of both Catrice and essence, reflects cosnova's momentum, and with ambitious goals for further expansion globally, especially in the US.
U.S. Market Performancecosnova's U.S. business has played an instrumental role in the company's success, achieving substantial growth over the past years which was fueled by significant momentum across online and brick-and-mortar retail channels. Over the past three years, the brand has seen a significant increase in sales, driven by strong partnerships with its top three trading partners: Ulta Beauty, Amazon, and Target. Notably, essence expanded into over 250 new Target locations over the past year, reinforcing its position as a go-to mass beauty brand in the U.S. Meanwhile, Catrice has doubled in size, driven by influencer endorsements and strong online sales through Amazon, and social shopping platforms such as Flip and TikTok Shop, all of which together account for a majority of the brand's sales.
The U.S. market is becoming increasingly central to our growth strategy, with the ambitious goal of surpassing Germany – currently our largest market worldwide – at some point in the future,” stated Javier González, Co-Founder and President of cosnova. He added, “Our presence in leading retailers such as Ulta, Amazon, and Target, alongside our innovative digital and influencer campaigns, has been instrumental to our success.”
Immersive Brand Engagementcosnova's U.S. success is fueled by its commitment to crafting immersive, 360-degree brand experiences that resonate deeply with today's consumers. In 2024, the launch of essence's Call Me Queen Mascara quickly secured a top-four spot at Ulta, thanks to engaging digital activations, including a custom TikTok song, collaborations with high-profile influencers, and media events across key markets. Building on this momentum, the brand hosted consumer-focused activations including a sponsorship of the Super Girl Surf Pro competition and a multi-city college campus roadshow. This past fall, essence further leveraged its digital prowess by launching its Juicy Butter Balms exclusively on TikTok Shop, with the support of mega-influencers Katie Fang and Charli D'Amelio, to engage fans in new and dynamic ways.
Catrice achieved remarkable success in 2024, driven by a strategic focus on elevating its best-known complexion category. Leading the charge is the Under Eye Brightener, now a best-seller and consistently ranked as the number one product in the Amazon Cosmetics category. This achievement stems from a targeted campaign leveraging makeup artist partnerships, trial-driven experiences with media and influencers, and performance-based influencer collaborations. Expanding its reach further, the brand debuted products on TikTok Shop, hosted multi-city events, and partnered with influencers nationwide, boosting visibility and consumer awareness.
Commitment to Innovation and SustainabilityLooking ahead, cosnova remains dedicated to leading in both technology and sustainability. In 2024, the company launched cosnova GPT, an AI-driven platform powered by Open AI, to streamline creativity and optimize operations. cosnova also continues to prioritize eco-friendly practices by eliminating volatile silicones from products, increasing recycled material use, and reducing packaging waste. “Sustainability is a cornerstone of our vision, and we are committed to embedding it across every facet of our business,” concluded Christina Oster-Daum. “As we move forward, we're excited to merge technological innovation with our brand values, delivering more sustainable and impactful beauty solutions.”
About cosnova BeautyHeadquartered in Germany, cosnova Beauty sells the color cosmetics brands essence and Catrice in around 90 countries worldwide. The owner-managed company has surpassed $1 billion in revenue in 2024. cosnova is the sixth largest color cosmetics company in the world and the second largest in terms of unit sales. In parallel to its beauty business, the cosnova Group invest in a wide range of companies and assets to take advantage of synergies in the beauty segment and in the form of independent investments. cosnova has grown rapidly since it was founded more than 20 years ago: Around 900 employees at various locations around the world contribute to the company's success story.
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