Who owns Ulta Beauty? Nation's largest beauty store ties-up with Target to open 100 shops in 2021

Target and Ulta struck a deal that would let Ulta Beauty open 1000 sq ft shops inside Target stores


                            Who owns Ulta Beauty? Nation's largest beauty store ties-up with Target to open 100 shops in 2021
Ulta Beauty store, West Hills, California (Getty Images)

With a promise to make one-stop shopping experiences for American customers, Ulta Beauty, the biggest beauty retail chain has joined hands with Target to open 100 shops around the country in 2021.

Target and Ulta struck a deal that would let Ulta Beauty open 1000 square feet shops inside Target stores. Target CEO Brian Cornell told the Associated Press, "It's a combination of two winning retailers that have great momentum in the market that can redefine the category.” 

This ‘shop-in-shop’ will feature more than 40 beauty brands along with skincare, haircare and fragrances. Both companies are likely to increase their customer base from the deal as the retailer brand suggested. Ulta and Target currently enjoy more than 100 million loyal customers through their membership plans and Ultamate Rewards.

"Ulta Beauty at Target reflects further evolution in our omnichannel strategy, rooted in unlocking the potential of our physical and digital footprints, creating more seamless shopping opportunities for our loyal guests, and continuing to lead the beauty industry. More than ever before, now is the time for innovation in retail," said Mary Dillon, CEO of Ulta Beauty in a news release.

She added, "This partnership is an amazing way to further reimagine guest experiences with a partner who shares our company values. We are thrilled to bring our beauty expertise, unparalleled assortment, and digital innovation to life in a new channel to delight and deepen loyalty with our existing guests and introduce Ulta Beauty to new guests."

Ulta Beauty, headquartered in Bolingbrook, Illinois has 1,196 stores across all 50 states. With the pandemic hit, the beauty brand notified that people are buying less lipstick but more skincare. Ulta Beauty was also the first beauty brand to close all their shops when the pandemic hit.

Ulta Beauty would also train newly hired Target team members to serve as experts on beauty products. To ensure proper safety precaution, Ulta Beauty shops will also have in-store digital discovery tools such as GLAMLab, a virtual try-on tool that provides safe trials across beauty categories.

Customers who will be shopping Ulta Beauty products through Target Online will also get free shipping on qualifying orders along with Drive Up, Order Pickup, and Shipt same-day delivery at participating store locations. After the tie-up was announced, both companies saw a rise in stock pricing while Target was at a 3% rise, Ulta Beauty’s stock went over 7%.

Ulta Beauty was originally founded as Ulta Salon in 1990 when Richard E George, the former President of Osco Drug, Inc, left Osco to open a new business. Currently, the beauty chain provides retail stores, salon services and e-commerce. The beauty giant is worth more than $269 million.

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