Ulta Beauty

SUMMARY

Ulta Beauty is the largest specialty beauty retailer in the U.S. and a leading destination for cosmetics, fragrance, skincare, haircare, wellness and salon services. Since opening its first store in 1990, Ulta Beauty has grown to 1,500 stores across the U.S. and redefined beauty retail by bringing together All Things Beauty. All in One Place®. With an expansive product assortment, professional salon services and its Ulta Beauty Rewards loyalty program, the company delivers personalised experiences across stores, ulta.com and the Ulta Beauty App. Ulta Beauty is also expanding its presence internationally through a joint venture in Mexico, a franchise in the Middle East, and its subsidiary, Space NK, a luxury beauty retailer in the U.K. and Ireland.

HISTORY

Ulta Beauty began in 1990 as ‘Ulta3’, founded by Richard E. George and Terry Hanson to create a single destination carrying both prestige and mass-market beauty at different price points. The first five shops opened around Chicago; the name shortened to ‘Ulta’ by 1999 and later to ‘Ulta Beauty.’ The company scaled through the 2000s and floated on the NASDAQ in October 2007 (ticker: ULTA), providing capital to accelerate store roll-out and supply-chain investment.

In 2017 the brand formally adopted the ‘Ulta Beauty’ name, reflecting a broadened offer across make-up, skincare, haircare, fragrance and services. By the mid-2020s it operated well over 1,400 stores nationwide from a headquarters in Bolingbrook, Illinois. Ulta complemented organic growth with targeted technology acquisitions in 2018, buying AI firm QM Scientific and AR try-on specialist GlamST to strengthen personalisation and virtual experiences.

A notable collaboration arrived in 2020 with ‘Ulta Beauty at Target,’ a shop-in-shop concept that launched in 2021. In August 2025 the partners announced they would not renew the agreement, with the in-store experience running through August 2026. International expansion gathered pace in 2025 with the acquisition of UK retailer Space NK, which continues to operate as a standalone subsidiary, giving Ulta a physical presence across the UK and Ireland.

In recent times Ulta debuted UB Marketplace—an online, Mirakl-powered marketplace adding 100+ curated beauty and wellness brands, where customers can browse and shop from a variety of third-party sellers, alongside Ulta Beauty’s curated products. This shift moves Ulta Beauty beyond its traditional retail model, enabling it to expand its product range and diversify the shopping experience. Through this initiative, Ulta Beauty features an assortment of products that were previously unavailable in its physical stores, including niche beauty brands, exclusive launches, and items from global beauty innovators.

“UB Marketplace allows us to deliver more newness, faster entry into emerging subcategories and trends, and deeper category authority while keeping the guest experience unmistakably Ulta Beauty” explains Lauren Brindley, chief merchandising and digital officer at Ulta Beauty, in a company statement. “This thoughtfully curated model scales discovery and brand building for our partners, and ensures guests enjoy the same benefits they love: Ulta Beauty Rewards, easy returns and a unified, trusted shopping experience.”

VISION

Ulta’s founding vision was to democratise beauty retail by placing prestige and mass products under one roof and serving a wide range of guests at accessible price points. Richard E. George and Terry Hanson set out to build a beauty retailer that removed the old divide between“drugstore and department store. Their vision was simple: put mass and prestige beauty under one roof, let customers try products freely, and keep prices and promotions transparent, supported by knowledgeable staff. By choosing convenient, off-mall locations and an open-sell floor, they aimed to make discovery enjoyable and accessible to everyone.

The duo also saw services as central to the experience. From the start, the plan was to combine retail with in-store salons and brow services, encouraging repeat visits and building loyalty. This “all things beauty, all in one place” idea guided product curation, store design, and marketing. It created a destination where a customer could book a cut or colour, test new launches, pick up everyday essentials, and explore prestige icons in one trip—turning Ulta into a community hub rather than just a shop.

MISSION STATEMENT

Ulta positions beauty as a positive force, aiming to leverage the power of beauty for associates, guests, partners and communities, while sustaining a distinctive culture and long-term growth. Operationally, Ulta focuses on continuous assortment innovation, digitally enhanced shopping, and guest care standards across stores, e-commerce and marketplace.

KEY TEAM

• Kecia Steelman — President & Chief Executive Officer.

• Chris Lialios — Interim Chief Financial Officer

• Lauren Brindley — Chief Merchandising & Digital Officer

PRODUCTS AND SERVICES

Ulta carries a wide spectrum of beauty—make-up, skincare, fragrance, haircare, tools and accessories—spanning prestige and mass brands along with exclusive labels. Most stores integrate services such as hair salons and brow/beauty applications, reinforcing Ulta’s “discovery + services” model alongside expert advice and events. Digital channels include a robust e-commerce platform, the UB Marketplace for curated third-party brands, and AR/AI features informed by the GlamST and QM Scientific acquisitions.

AWARDS AND RECOGNITION

Ulta is a Fortune 500 company; in 2025 it ranked around the mid-300s by revenue, underscoring its scale within US retail. The company features in workplace and employer accolades, including Forbes’ lists such as America’s Best Employers for Women. Consumer and corporate rankings have recognised Ulta for trust and service quality, including Newsweek lists such as America’s Most Trustworthy Companies and America’s Best Customer Service (category leader in Hair Salons).

REFERENCES

• “How Ulta grew from the suburbs into a top national retailer”. Daily Herald Business Ledger.
• “Print vs. TV debate in another go-round”, Chicago Tribune
• “Chicago’s $10 million CEOs”. Chicago Tribune.
• “Mary Dillon leaves U.S. Cellular to become CEO of Ulta”. Crain’s Chicago Business. 
• “Ulta Beauty Names Mary Dillion Chief Executive Officer”. Yahoo! Finance.
• “The Mentors Who Helped Ulta Beauty’s Unlikely CEO Succeed”. Wall Street Journal. 
• “Ulta Beauty: Number of Employees 2007-2021”. macrotrends.net. 
• “Company Information”.
• “Ulta Beauty store count by state U.S. 2023”.
• “Moving in to Mexico: Ulta Beauty’s 2025 Expansion Plans”.
• “Ulta Beauty joins forces with Axo to launch in Mexico in 2025”.
•  “MAC Cosmetics Is Coming to Ulta, and Now Our Wallets Are in Trouble”. Glamour. 
• “Kylie Cosmetics Is Coming to Ulta Just in Time for Black Friday”. Allure. 
• “ColourPop Is Reportedly Coming to Ulta This Month, and Fans Are THRILLED”. Allure. 
• “Ulta beats 1st-quarter estimate”. Chicago Tribune
• “News Release: Ulta Beauty Announces Second Quarter 2014 Results”. Ulta.
• “Ulta Beauty At Target – List Of Brands, Locations, And Other Questions Answered”. Delgoor. 
•  “Ulta Beauty CMO Shelley Hause Dies After Cancer Battle”. Ad Age.