Target & Ulta Beauty
On Tuesday, the retailers announced a long-term partnership and the upcoming launch of makeup and skincare “shop-in-shops” that will offer "established and emerging prestige brands" inside more than 100 Target stores and on target.com.
Entitled Ulta Beauty at Target, the concept is set to “redefine beauty experiences” while “creating new opportunities for guests and brand partners" to "strategically and collaboratively” lead the retail industry, according to a press release. The partnership is expected to launch in more than 100 locations in 2021, with plans to open "hundreds more" over time.
Brand names have not been disclosed yet, but Ulta CEO Mary Dillon said there will be a "curated assortment of established, indie and emerging brands" during a conference call with chief executive officer of Target Brian Cornell, WWD reports.
Dillon explained that the Ulta and Target consumers are "very similar," adding, "This is more about new shopping occasions that we can capture. Beauty in our home format is a deep immersive experience. They learn, discover, shop and maybe spend time on services."
“Guests need to shop for other needs and there is a convenience need. This allows us to capture more share of wallet and drive more business to prestige beauty."
"This is about two retailers embracing a time of change to lead and innovate," she continued. "Both of our retail brands are coming from a position of strength, and we’re excited to come together to shape the future of beauty."
Cornell, meanwhile, said Target has "invested heavily" in the beauty category and seen significant results — so partnering with Ulta was a logical next step.
"As we thought about what’s next, one retail peer came to mind," he added. "By bringing these two brands together, we will redefine the retail experience."