German cosmetics company Cosnova is expanding its presence in French supermarkets, according to French trade publication LSA.
The German company, which produces the Essence and Catrice brands, has decided to hire full-time staff to expand its presence in France,
The move comes after Cosnova set up a team in Italy last year, capping a record year for the company which posted net sales of €424.9 million, rising 15% from 2016.
Speaking about the results at the time, Hilko Prahl, managing director of Cosnova beauty said, "Tapping into new markets is significantly contributing to our further development and success."
The development of a new office in France makes sense since Essence is already the leading cosmestics brand sold by volume in Auchan supermarkets, according to the publication.
Cosnova's decision to further its presence in the French market, especially in more affordable product lines, also comes at a time when FMCG giants such as L'Oréal are teaming up with major retailers such as Casino. The alliance endeavours to attract customers by moving to higher-end store experiences, in the face of competition from online rivals.
© 2018 European Supermarket Magazine – your source for the latest retail news. Article by Matthieu Chassain. Click subscribe to sign up to ESM: European Supermarket Magazine.
