## Rituals Cosmetics Expands into Hungary Amidst Global Growth
The Dutch beauty brand Rituals has entered the Hungarian market with it’s first store opening at the Mammut Shopping Center in budapest. This move positions Rituals as a new competitor to established drugstore chains popular with Hungarian shoppers, Rossmann and DM.
Founded in 2000 by former Unilever employee Raymond Cloosterman, Rituals distinguishes itself by focusing on a holistic approach to wellbeing, blending beauty and cosmetic products with a philosophy centered on balancing everyday life, incorporating elements of Eastern traditions. While offering similar product categories to Rossmann, DM, and Douglas, Rituals emphasizes a more comprehensive lifestyle focus.The brand’s origins are humble, starting in a cellar in amsterdam, but it has rapidly grown into an international company. Rituals’ Amsterdam flagship store, opened in 2020, exemplifies this expansion, featuring not only retail space but also a “body and soul center” and a restaurant specializing in Eastern cuisine.
Rituals is experiencing notable global momentum. According to its 2024 performance, the company’s global revenue increased by 21% to EUR 2.1 billion.
Growth was primarily driven by the European market, with substantial gains also reported in Asian markets. rituals expanded its presence through both physical stores and its e-commerce channels. In 2023, the company launched its first store in Japan and opened new locations in Malaysia, Singapore, Thailand, and China. the company plans to open over 200 stores worldwide in 2024.
Details regarding Rituals’ specific expansion plans within hungary remain limited.
