10. Innovation and Product Management

The company discloses how innovations in products and services are enhanced through suitable processes which improve sustainability with respect to the company’s utilisation of resources and with regard to users. Likewise, a further statement is made with regard to if and how the current and future impact of the key products and services in the value chain and in the product life cycle are assessed.

With our goal of sustainable corporate management, we not only take the general corporate responsibility into account, but also the changing requirements of our consumers. Their awareness of serious problems such as environmental pollution, waste and unethical behavior is increasing. Consumers therefore expect people and brands to behave responsibly and make informed choices. They are looking for products that they can use without hesitation and want transparency, simplicity and safety. These findings are used by cosnova as a guideline to integrate sustainability aspects into all relevant processes related to product development. This is done through presentations by the Innovation Team both internally for all brand houses and externally for contract manufacturers as well as for partners and suppliers, for example, trade marketing suppliers. In the 2018 reporting year, concrete pilot projects were initiated for the first time in the brand houses in order to establish long-term sustainability aspects in the product development and finished products.

In accordance with our mission, we develop and market products that help everyone feel more beautiful at all times. In doing so, we do not define a particular ideal of beauty, but want to support each individual and the diversity of our consumers. Low pricing is also an important social aspect because it makes our products available to all social groups. The positive social impact of cosmetic products can be confirmed by consumer surveys and is measured by us using market research. The ecological effects of our products in the sense of an LCA (Life Cycle Assessment) have not yet been surveyed. However, both internal workshops and the creation of the first Corporate Carbon Footprint have taken steps to better outline the environmental impacts of our products and to define the key hotspots for our business operations.