Ulta Beauty bets big on brick and mortar by making plans to grow partnerships, create more experiential elements and expand retail access in 2023.
In 2022, the retailer created GLAMlab, a new way for potential customers to try on products before buying.
Ulta also expanded its physical footprint and began a partnership with Target to create shop-in-shops inside select Target stores. This partnership has expanded Target’s retail capabilities and created a new, exciting shopping opportunity for consumers. Because of its recent success, the retail pair hopes to have at least 800 shop-in-shops.
Ulta has provided a unique shopping experience for consumers with its recent partnerships and in-store elements. After seeing strong growth throughout 2022, the company’s expectations are high for the beauty business. The company has opened 47 new stores in the past year.
According to Ulta CEO Dave Kimbell, the beauty retailer plans to open another 25-30 stores and provide facelifts or relocate another 20-30 locations. These additional stores are outside of the company’s plans to expand its shop-in-shops.
While currently operating 1,300 retail locations across the nation as the largest US beauty retailer, Ulta’s long-term plan is to operate 1,500-1,700 stand-alone stores.