Ulta Beauty and Target to Conclude 5-Year Partnership by 2026
Beauty industry leader, Ulta Beauty, and retail powerhouse, Target Corporation, have announced their decision to discontinue their shop-in-shop partnership. The current agreement, which began in 2021, is set to expire in August 2026.
The innovative Ulta Beauty at Target experience, bringing prestige beauty products to approximately 610 Target stores across the United States, will continue until the partnership concludes. This unique arrangement provided customers the convenience of linking their Ulta Beauty Rewards and Target Circle accounts, offering added value.
“For 35 years, Ulta Beauty has revolutionized how people experience beauty,” said Amiee Bayer-Thomas, chief retail officer at Ulta Beauty. The partnership, however, faced challenges from competitors such as Sephora’s successful collaboration with Kohl’s and Amazon’s push into prestige beauty.
Following the announcement, both companies’ stock prices declined. Target shares fell by 2% and Ulta shares dropped by 1%. Industry analysts have noted that this move comes amid intensifying competition in the beauty retail space.