KRISTINE DOROSKO
Sustainability Consultant, Riga, Latvia

Abstract

Being only 23 years old she started a cosmetics startup. Lotte Tisenkopfa-Iltnere was pushing hard in developing an ambitious sustainability strategy and successfully implementing it. Sustainability and respect to the environment, customers and employees have been in the DNA of the company since day one. Currently MADARA Cosmetics is already a publicly listed company of organic cosmetics and its organic-certified factory is open for public every day – people can come and experience how natural ingredients translate into innovative organic beauty products. MADARA Cosmetics success is definitive proof that one does not have to be a million-dollar company to be able to implement sustainable solutions and apply innovation. A strong sustainability strategy can be implemented by a company with a profit of around 1.5 million EUR. Most importantly, the decision-makers in the company have an interest in doing things differently.

November 2019, the iconic Bell Ringing Ceremony at Nasdaq was organized to showcase the MADARA Cosmetics company amongst two other companies from Baltics. The exclusive advertising on the new MADARA Cosmetics Makeup line were streamed on the Nasdaq Tower in Times Square. Economic progress and sustainability are the key pillars of Nasdaq. It comes of no surprise that MADARA Cosmetics has been noticed and rewarded for its outstanding transparency & disclosure practices, and being a trailblazer in producing the most innovative and sustainable organic cosmetics across the North Europe region.

13 years ago, when Lotte was only 23 years old, MADARA Cosmetics started as a cosmetics startup, that even Europe’s recession and global economy crisis couldn’t stop, managed to become a company that is listed at the Nasdaq Stock Market, and has remained such since 2017. At the same time Lotte was pushing hard in developing an ambitious sustainability strategy and successfully implementing it. In theory sustainability practices pays off throughout the long term, MADARA Cosmetics proves that it is possible to reap the rewards of sustainable practice in almost an immediate sense.< ...