Beauty mecca Ulta has been stripped of the typical beauty store image, launching several new, lesser known product brands in their stores, a long-time goal that is finally being realized.
Ulta’s chief financial officer Scott Settersten describes the store’s shift in products as a “pipeline of newness.” Over the past six months, the store has introduced brands such as Mally Beauty, Karora Cosmetics, Altchek MD skin care, Nails Inc. and Vichy’s Idealia Life Serum to their customers.
Looking to be a jump-starter for up and coming brands, Ulta has made it their mission not only to offer new beauty brands a spot in their store, but also help them to prepare for expansion toward other retailers. Mally Beauty’s chief executive officer Don Pettit says of the store, “Ulta is a great launch partner. They guide you to the right tools and efforts to optimize your presence.”
With launching brands into the heart of the beauty atmosphere, Ulta reaps the benefits as well, many times being the first to introduce a product and having the opportunity to offer customers something exclusive. In the case of Vichy’s Idealia
Life Serum, a product used for treating aging skin, Ulta will be the only storefront selling it from July 15 until September.
The positive impact of Ulta taking on new brands has already been recognized with the enormous success of NYX. The make-up brand was highly promoted by Ulta, and they have recently been bought by the powerhouse brand L’Oreal for an estimated $500 million.
Not only is the company growing in the number of brands its partnering with, it is also well on its way of reaching its goal of 1,200 stores nationwide. With 696 stores already open for business, Ulta will have 100 more stores opening in this year alone.
While so many beauty stores stick to what they know best and already well-
established consumer favorites, Ulta takes an alternative route, proving that the greatest risks often result in the greatest rewards.