Beauty Store Business

JAN 2019

Beauty Store Business provides solutions for better retailing! New products, industry news, savvy business moves and important trends affecting both brick-and-mortar and online retailers are included in each issue.

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Page 28 of 67

T h e E x p e r i e n c e | January 2019 27 The 'ULTA'-mate Experience By Karen Wilhelmsen I t's no secret that Ulta Beauty dominates the specialty retail market for beauty. Founded in 1990, Ulta currently operates 1,163 stores in 50 states, with a full-service salon in every shop. Ninety percent are off-mall locations, and its products range in price points, from affordable drugstore staples to high-end luxury offerings, appealing to consumers of all ages–a comprehensive variety that also helps Ulta differentiate itself from its biggest competitor, LVMH-owned Sephora. Under the leadership of CEO Mary Dillon, Ulta's 2017 fiscal year sales were $5.9 billion (up 21.2 percent from the previous year), with $569 million in e-commerce sales. Forbes predicts 2018 sales to be roughly $6.6 billion, with earnings per share hovering at $4.25 (up from $3.40 last year). What's Ulta's secret for success? For such a large company with with so many moving parts, the answer is complex. However, one area is certainly Ulta's in-store offerings and salon services, which allow the retail giant to live up to its slogan: "All Things Beauty. All in One Place." We spoke to three Ulta Beauty executives responsible for these areas. Here, they share strategy, plans for future growth and their individual "crystal ball" beauty industry predictions for 2019! Learn Ulta Beauty's in-store success strategy from three of its top executives.

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