MÁDARA Cosmetics is the largest beauty manufacturer in Latvia and a leading producer of high-performance natural skincare, makeup, and personal care products in Northern Europe. Established in 2006, the company is a certified B Corp that integrates scientific research with potent Northern ingredients like revitalizing birch water, antioxidant-rich herbs, and berry seeds.
Core Business and Brand Identity
Founding and Leadership:
The company was founded by a quartet of Latvian women, including current Chairman of the Management Board Lotte Tisenkopfa-Iltnere. Gunta Šulte serves as the CEO as of late 2025.
The Name:
The brand name “MÁDARA” refers to a common Baltic meadow plant (Galium mollugo), also known as bedstraw or wild madder, which is depicted in the company’s logo.
Vertical Integration:
MÁDARA maintains approximately 100% control over its processes, from in-house research and development (R&D) to manufacturing and design. Its production facility in Riga is considered one of the most advanced in Northern Europe.
Product Portfolio and Innovation
MÁDARA offers over 150 different products targeting various skin concerns, including anti-aging, hydration, acne prevention, and sun protection.
Key Categories:
Facial care (the largest revenue driver), body care, hair care, baby care, and high-performance makeup.
Signature Ingredients:
The brand is known for using birch water (proven to accelerate skin cell division by 25%) as a base for anti-aging products like the ‘Time Miracle’ line, as well as fossil mud, Northern peony, and oat extract.
MOSSA Brand:
In 2014, MÁDARA launched MOSSA, a budget-friendly organic brand based on Northern berry vitamins, positioned for mass-market retail.
Contract Manufacturing:
Through its subsidiary Cosmetics NORD SIA, the company offers contract manufacturing and private label services to other brands.
Sustainability and Ethics
Certifications:
All formulas are certified as natural or organic according to international ECOCERT/COSMOS standards.
Production Standards:
Products are free from parabens, silicones, mineral oils, and synthetic fragrances. They are 100% cruelty-free, and most are vegan (except for select items using ethically sourced beeswax or lanolin).
Environment:
The company uses green electricity from renewable sources and utilizes recyclable, BPA-free packaging. It has also implemented CO2-neutral delivery options.
Financial and Market Profile
Public Status:
MÁDARA has been a publicly traded company since 2017, listed on the Nasdaq Baltic First North market under the ticker symbol MDARA.
Global Presence:
The brand exports to more than 35 countries, with its largest markets being Latvia, Finland, Germany, and France.
Revenue Growth:
In the first half of 2025, the company reported a 9% growth in turnover, reaching €11.37 million, with e-commerce accounting for 38% of total sales.
New Ventures:
The group recently launched Selfnamed, a print-on-demand platform for personalized organic cosmetics.