THE WHAT? Rituals Cosmetics reported a record-breaking year in 2023 with over 1.7 billion euros in net revenue and a 22% global revenue growth, including nearly 20% growth in online sales.
THE DETAILS The brand expanded internationally, opening nearly 200 new stores and entering the Asian market with stores in Malaysia, Singapore, Thailand, and mainland China. Rituals emphasized sustainability with initiatives like the refill movement, contributing to the growth of over 8 million trees, and continued its focus on wellbeing through the expansion of its Mind Oasis concept in flagship stores across Europe.
THE WHY? The brand plans further expansion in 2024, aiming to cross the 2 billion euro revenue mark and open additional stores in Asia and Europe.