Cosnova Beauty announced on Thursday that it has surpassed $1 billion in revenue in 2024, backed by rapid international expansion and growing influence both domestically in Europe and globally.

The owner of cosmetics brands essence makeup and Catrice Cosmetics, posted a 17% increase in net sales over the past year. It saw strong growth across nearly every region, with revenue doubling in just three years.

“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.”

Cosnova’s U.S. business has also played an instrumental role in the company’s success, fueled by significant momentum across online and brick-and-mortar retail channels including partnerships with Ulta Beauty, Amazon, and Target.

“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,” added Javier González, co-founder and president of Cosnova.

“Our presence in leading retailers such as Ulta, Amazon, and Target, alongside our innovative digital and influencer campaigns, has been instrumental to our success.”

Looking 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. It also continues to prioritize eco-friendly practices by eliminating silicones from products, increasing recycled material use, and reducing packaging waste.