The cosmetics industry in Greece experienced a remarkable leap in 2024, with retail sales soaring by €500 million to surpass €1.7 billion, according to the annual report by Cosmetics Europe and Euromonitor International on the European market’s performance.

This impressive growth is driven by two key factors: strong domestic demand and growing international expansion.

On the home front, rising consumer interest in cosmetics and personal care products — further boosted by Greece’s thriving tourism sector — has significantly fueled retail sales.

At the same time, more and more Greek companies are embracing an outward-looking strategy, following the path paved by pioneers like George Korres and the Koutsianas family, founders of Korres and Apivita, respectively. Despite recent challenges faced by Korres in the U.S. market and Apivita’s earlier acquisition by Spanish group Puig, both brands continue to serve as benchmarks for international success.

According to the Panhellenic Association of Cosmetics and Perfume Manufacturers and Agents, Greek cosmetics exports rose by 6.4% last year — a testament to the sector’s growing global footprint. This momentum is largely powered by approximately 163 small and medium-sized enterprises (SMEs), which form the backbone of the industry.

At the same time, larger, well-established Greek companies are playing a key role in promoting the national brand abroad, enhancing Greece’s reputation in the global cosmetics arena.