ULTA Beauty

ULTA combines mass-market and prestige brands in a single, open-sell floor — no commissioned brand reps. In-store salons in 95% of locations add a service anchor. This contrasts with Sephora, which focuses on prestige only, and with department stores that historically siloed brands behind dedicated counters.

The Ultamate Rewards program is one of the largest loyalty programs in retail, with tens of millions of active members. It uses a tiered points system that works across all product categories and salon services. The program also provides ULTA with first-party data used to negotiate exclusivity and marketing terms with brands.

Salons are located in roughly 1,300 of ULTA's 1,385 stores. They drive consistent appointment-based foot traffic, which converts to product sales. The salon also reinforces ULTA's positioning as a full-service beauty destination rather than a purely transactional retailer.

Launched in 2021, ULTA Beauty at Target places curated ULTA-branded mini-shops inside Target stores. The partnership gives ULTA access to Target's mass-market foot traffic and broadens its geographic reach without the capital commitment of new standalone stores. As of 2024, the concept has rolled out to hundreds of Target locations.

Kecia Steelman will become CEO in January 2025, succeeding Dave Kimbell, who has led the company since June 2021. Kimbell in turn succeeded Mary Dillon, who served as CEO from 2013 to 2021 and oversaw a period of rapid store expansion and digital growth.