Ulta Beauty
| File:Ulta Beauty logo.svg | |
| Formerly | Ulta Salon, Cosmetics & Fragrance Inc. (1990–2017) |
|---|---|
| Company type | Public |
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| Founded | 1990 (originally Ulta Salon, Cosmetics & Fragrance, Inc.) |
| Founders |
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| Headquarters | , U.S. |
Number of locations | 1,385 (2024) |
Key people | Kecia Steelman (CEO) |
| Revenue | Increase US$11.2 billion (2023) |
| Increase US$1.68 billion (2023) | |
| Increase US$1.29 billion (2023) | |
| Total assets | Increase US$5.71 billion (2023) |
| Total equity | Increase US$2.28 billion (2023) |
Number of employees | 56,000 (2024) |
| Website | ulta |
Ulta Beauty, Inc., initially known as Ulta Salon, Cosmetics & Fragrance Inc. and originally branded as Ulta3, stands as a prominent American retailer specializing in beauty products. Its headquarters are situated in Bolingbrook, Illinois. The company’s offerings encompass a wide variety of items such as makeup, fragrances, nail care, bath and body products, haircare essentials, beauty tools, along with salon services available within its stores.
History
Established in 1990 by Richard E. George—formerly president of Osco Drug, Inc.—and Terry Hanson, Ulta was designed to deliver beauty merchandise spanning various price categories. Initial venture capital investment amounted to $11.5 million. The enterprise began with five locations in Chicago’s suburban areas under the name Ulta3 before adopting the simpler Ulta brand in 1999.
In 1995, George departed from the company while Hanson took over as CEO. Subsequent leadership transitions included Lyn Kirby assuming the CEO role in 1999 and Charles "Rick" Weber joining as COO and CFO. The company reached a significant milestone by going public on the NASDAQ exchange on October 25, 2007.
Expansion efforts featured the addition of a second distribution hub in Phoenix in 2008. Carl "Chuck" Rubin was appointed COO and president in 2010. In 2013, Mary Dillon became CEO; her experience includes executive positions at U.S. Cellular, McDonald's, and PepsiCo. Under her guidance, Ulta notably increased its market presence.
By 2020, the workforce numbered around 44,000 employees worldwide; this figure adjusted to roughly 37,000 by 2021 due to changing business conditions. Early in 2025, Dave Kimbell retired from his CEO position and was succeeded by Kecia Steelman, previously COO, maintaining a focus on strategic leadership and operational efficiency.
Ulta’s business approach combines an extensive product assortment with salon services to attract a wide range of customers within the competitive beauty sector. Its robust financial results demonstrate ongoing commitment to expanding global operations and strengthening market position.
Locations
Ulta Beauty’s operations are confined to the United States where it manages 1,385 stores across all fifty states as of 2024. Nearly 250 of these outlets are situated within Target stores. California leads with the greatest number of locations at 168 stores. The company supports its retail network through seven distribution centers located in seven different states.
Operations
Ulta Beauty provides an extensive assortment of cosmetics, skincare items, and fragrances, featuring both premium and drugstore labels as well as its own private brand offerings. Prominent brands carried include MAC Cosmetics, Kylie Cosmetics, and ColourPop Cosmetics.
In the first quarter of 2014, the company reported revenues of $713.8 million. By the second quarter of that year, total sales had grown by 22.2%, with comparable store sales rising 9.8%. As of 2019, Ulta maintained retail locations across 48 states, with a particularly strong footprint on the East Coast and in California.
In August 2021, Ulta expanded its distribution by partnering with Target to retail its products, thereby broadening its consumer reach. Additionally, Ulta committed to the 15 Percent Pledge, pledging to increase shelf space dedicated to Black-owned brands.
During 2022, Ulta collaborated with Allure to showcase a specially curated collection exceeding 25,000 products in both Allure’s brick-and-mortar and digital outlets. This partnership featured brands such as Fenty Beauty, Drybar, Olaplex, Tula, The Ordinary, Peter Thomas Roth, CosRX, NYX, Morphe, and Beekman 1802.
Starting January 1, 2024, Ulta initiated the transition of its operations from its original distribution hub in Romeoville, IL to a new center located in Bolingbrook, IL, with full operational activities set to begin on August 5, 2024.