On February 6, cosnova Beauty, the Germany-based company behind essence and Catrice, announced that its 2024 revenue has surpassed $1 billion. This achievement marks a significant milestone, highlighting the company’s rapid global expansion and growing influence in the beauty market.
Strategic Growth Fuels Expansion
For over 20 years, cosnova Beauty has maintained a clear vision: providing trend-driven beauty at an affordable price. In 2024, the company experienced a remarkable 17% increase in revenue, solidifying its position as the second-largest beauty provider worldwide by volume.
This success is attributed to strong retail partnerships and deep consumer loyalty. Christina Oster-Daum, Co-Founder and President of cosnova, shared her thoughts on this milestone: “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.”
She further emphasized cosnova’s unique position in the industry: “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.”
U.S. Market Growth as a Key Driver
One of the most significant contributors to cosnova Beauty’s success has been its rapid growth in the U.S. market. Over the past three years, sales in the U.S. have surged, with Ulta Beauty, Amazon, and Target playing pivotal roles in this expansion.
In particular, essence expanded into over 250 new Target locations in 2024, strengthening its position as a go-to mass beauty brand in the U.S. Meanwhile, Catrice has doubled in size, driven by strong influencer endorsements and high sales on Amazon, TikTok Shop, and Flip.
Javier González, Co-Founder and President of cosnova, highlighted the growing importance of the U.S. market: “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.”
He further elaborated: “Our presence in leading retailers such as Ulta, Amazon, and Target, alongside our innovative digital and influencer campaigns, has been instrumental to our success.”
Blending Digital Innovation with Real-Life Experiences
cosnova Beauty’s success in the U.S. is largely attributed to its integrated digital marketing strategies and engaging real-world experiences.
In 2024, Call Me Queen Mascara debuted at Ulta Beauty, quickly becoming a top-four bestseller thanks to a custom TikTok song, influencer collaborations, and strategic media activations.
To further enhance brand awareness, essence sponsored the Super Girl Surf Pro competition and launched a multi-city college campus tour. Additionally, it released Juicy Butter Balms exclusively on TikTok Shop, with mega-influencers Katie Fang and Charli D’Amelio driving the campaign’s success.
Meanwhile, Catrice strengthened its position in the complexion category, particularly with its Under Eye Brightener, which became the No.1 bestseller in Amazon’s cosmetics category. This was achieved through makeup artist collaborations, media trials, and influencer-driven performance marketing.
AI and Sustainability: The Next Frontier
Looking ahead, cosnova Beauty remains committed to technological innovation and sustainability. In 2024, the company launched cosnova GPT, an AI-powered platform designed to enhance creativity and optimize operations. At the same time, it intensified its focus on eliminating volatile silicones, increasing the use of recycled materials, and reducing packaging waste.
“Sustainability is a cornerstone of our vision, and we are committed to embedding it across every facet of our business,” said Oster-Daum. “As we move forward, we’re excited to merge technological innovation with our brand values, delivering more sustainable and impactful beauty solutions.”
Currently, cosnova Beauty employs approximately 900 people worldwide. Moving forward, the company aims to further expand its global presence while maintaining its commitment to providing trend-driven beauty at an affordable price.
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