Ulta Beauty and Target Corp. are breaking up.
The two publicly listed companies announced that they have mutually agreed not to renew the Ulta Beauty at Target shop-in-shop partnership when the current agreement concludes in August 2026. Until then, the Ulta Beauty at Target experience will continue in Target stores and on Target.com.
It launched in 2021 to much fanfare, but has struggled in recent years from intense competition from Sephora’s partnership with Kohl’s and more recently Amazon’s push into prestige beauty.
The Ulta shop had expanded to over 600 stores, but earlier this year they paused and ultimately decided to end the partnership.
“Our partnership with Target was one of many unique ways we have brought the power of beauty to guests nationwide,” said Amiee Bayer-Thomas, chief retail officer at Ulta Beauty. “As we continue to execute our Ulta Beauty Unleashed plans, we’re confident our wide-ranging assortment, expert services and inspiring in-store experiences will reinforce our leadership in beauty and define the next chapter of our brand.”
“We’re proud of our shared success with Ulta Beauty and the experience we’ve delivered together,” added Rick Gomez, executive vice president and chief commercial officer of Target. “We look forward to what’s ahead and remain committed to offering the beauty experience consumers have come to expect from Target – one centered on an exciting mix of beauty brands with continuous newness, all at an unbeatable value.”
Ulta will be launching an online marketplace later this year, after just acquiring British beauty retailer Space NK.
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