Ulta Beauty Ends Target Partnership

By Hao Liu • Thursday, August 14 15:33 • Permanent Link

Ulta Beauty (NASDAQ: ULTA) and Target Corporation (NYSE: TGT) have announced that they will not renew the Ulta Beauty at Target shop-in-shop partnership when the current agreement concludes in August 2026. The partnership, which began in 2021, aimed to expand access to prestige beauty and offer added convenience and value to beauty enthusiasts. Until August 2026, guests with linked rewards accounts will continue to earn Ulta Beauty rewards on eligible Ulta Beauty at Target purchases.

Ulta Beauty's Chief Retail Officer, Amiee Bayer-Thomas, expressed confidence in the company's wide-ranging assortment, expert services, and in-store experiences reinforcing its leadership in beauty and defining the next chapter of the brand as they continue to execute their Ulta Beauty Unleashed plans.

Target's Executive Vice President and Chief Commercial Officer, Rick Gomez, highlighted the success of the partnership and expressed the company's commitment to offering the beauty experience consumers have come to expect from Target, centered on an exciting mix of beauty brands with continuous newness and unbeatable value.

Both companies remain committed to delivering a seamless shopping experience and product availability through the end of the partnership, as well as continuing to support their teams and partners during the transition.

Ulta Beauty, as the largest U.S. specialty beauty retailer, is set to launch Ulta Beauty Marketplace later this year, a curated online destination designed to engage new brands and audiences. Target will continue to curate a differentiated beauty assortment and a new experience for its tens of millions of weekly shoppers, featuring engaging product trial events and a commitment to affordable prices.

Ulta Beauty, since its establishment in 1990, has grown to approximately 1,500 stores across the U.S. and has redefined beauty retail by bringing together a wide array of beauty products, salon services, and the Ulta Beauty rewards loyalty program. The company is also expanding its presence internationally through various ventures.

Target, on the other hand, will continue to offer a compelling lineup of beauty essentials and unexpected finds, engaging product trial events, and a commitment to affordable prices for its vast number of weekly shoppers. Today the company's shares have moved -0.8% to a price of $528.44. For more information, read the company's full 8-K submission here.

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