Ulta Beauty, Inc.

What does Ulta Beauty own?
Ulta Beauty owns its retail store chain, e-commerce platform, loyalty program (Ulta Beauty Rewards), private label product line (Ulta Beauty Collection), and in-store salon brand (The Salon at Ulta Beauty). In July 2025, Ulta acquired Space NK, a luxury beauty retailer operating in the UK and Ireland, which now operates as a wholly owned subsidiary. Ulta also has a joint venture in Mexico and a franchise in the Middle East.

Is Ulta Beauty publicly traded?
Yes, Ulta Beauty is publicly traded on NASDAQ under the ticker symbol ULTA. The company went public in 2007 and has no parent company or controlling shareholder. Institutional investors including Vanguard Group, BlackRock, and State Street Corporation are among the largest shareholders.

Who founded Ulta Beauty?
Ulta Beauty was founded in 1990 by Terry Hanson and Dick George in Chicago, Illinois. The founders created a retail concept that combined prestige cosmetics, mass-market beauty products, and salon services in a single store, breaking from the traditional model where these categories were sold through separate channels.

Where is Ulta Beauty headquartered?
Ulta Beauty is headquartered in Bolingbrook, Illinois, a suburb of Chicago. The company has been based in the Chicago area since its founding in 1990. The headquarters houses corporate offices, merchandising teams, and operational support for more than 1,500 retail stores.

How many brands does Ulta Beauty own?
Ulta Beauty operates as a retailer rather than a brand owner. The company carries products from more than 600 brands across prestige, mass-market, and salon categories. Its owned properties include the Ulta Beauty retail brand, Ulta Beauty Collection private label, The Salon at Ulta Beauty, and Space NK (acquired July 2025).

Who owns Ulta Beauty?
Ulta Beauty is owned by its shareholders, including institutional investors such as Vanguard Group, BlackRock, and State Street Corporation. The company has no parent company or controlling shareholder. Kecia Steelman, the CEO, serves on the board of directors alongside independent directors.

Ulta Beauty was founded in 1990 in Chicago, Illinois, by Terry Hanson and Dick George. The founders created a retail concept that combined prestige cosmetics, mass-market beauty products, and salon services in a single store, breaking from the traditional model where these categories were sold through separate channels. The original name was Ulta Salon, Cosmetics & Fragrance, Inc., which was shortened to Ulta Beauty, Inc. in 2017.

The company grew steadily through the 1990s, opening stores across the Midwest and expanding nationally. Ulta went public on NASDAQ in 2007, raising capital to accelerate store expansion. The IPO valued the company at approximately $412 million.

Through the 2010s, Ulta expanded rapidly, growing from 383 stores in 2010 to over 1,300 by 2020. The company invested in e-commerce capabilities, mobile apps, and digital marketing to build an omnichannel business. Revenue grew from $2.2 billion in 2012 to $8.4 billion in 2021, driven by store expansion, comparable sales growth, and digital adoption.

Mary Dillon served as CEO from 2013 to 2021 and is widely credited with building Ulta's brand identity and digital capabilities. Under her leadership, the company launched the Ulta Beauty Rewards loyalty program, expanded its product assortment, and grew its market share. Dave Kimbell succeeded Dillon as CEO in 2021 and served until January 2025, during which time the company grew to more than $11 billion in annual revenue.

Kecia Steelman, who joined Ulta in 2014 as Senior Vice President of Store Operations, was named President and CEO in January 2025. Steelman previously served as Chief Operating Officer and President before succeeding Kimbell. She brought 20 years of retail operations experience from Target Corporation, Home Depot, and Family Dollar Stores.

In July 2025, Ulta acquired Space NK, a luxury beauty retailer operating in the UK and Ireland. The acquisition marked Ulta's first major international expansion. Space NK operates as a subsidiary under its existing brand, with Andy Lightfoot continuing as CEO of Space NK. Ulta also operates a joint venture in Mexico and a franchise in the Middle East.

For fiscal 2025 (ended January 31, 2026), Ulta reported net sales of $12.4 billion, a 9.7% increase from $11.3 billion in fiscal 2024. Comparable sales increased 5.4%. Diluted EPS was $25.64, and the company returned $890.5 million to shareholders through share repurchases. For fiscal 2026, Ulta guided net sales growth of 6% to 7%, comparable sales growth of 2.5% to 3.5%, and diluted EPS of $28.05 to $28.55.

Ulta Beauty has committed to sustainability initiatives across its operations and product assortment. The company's efforts include:

• Expanding its "Conscious Beauty" program, which highlights products meeting standards for clean ingredients, cruelty-free formulations, and sustainable packaging
• Implementing recycling programs for beauty product containers in stores
• Increasing the representation of BIPOC-founded brands in its product assortment
• Supporting the Ulta Beauty Charitable Foundation, which partners with organizations focused on breast cancer research, domestic violence prevention, and education

Ulta has faced scrutiny over its environmental footprint, particularly regarding packaging waste from beauty products and the environmental impact of the cosmetics supply chain. The company has set goals to reduce waste and increase the use of sustainable materials in its private label products.

Ulta Beauty has received recognition for its retail innovation, customer experience, and workplace culture:

• Named to Fortune's Most Admired Companies list
• Recognized for its loyalty program innovation and customer engagement
• Awards for diversity and inclusion in retail, including recognition for its BIPOC brand accelerator program
• Kecia Steelman recognized as a leading retail CEO, serving on the boards of Pinterest, the Bay Club Company, and the Breast Cancer Research Foundation

Ulta Beauty has faced several controversies:

• Product resale controversy (2022): Ulta faced criticism after reports that some returned products were being restocked and resold as new. The company investigated the issue and stated that its return policies and procedures were designed to prevent resale of used products.
• Pricing and discounting practices: Ulta has faced criticism over its pricing transparency, particularly regarding its loyalty program rewards and promotional pricing. Some customers have reported confusion over point redemption values and expiration policies.
• DEI program backlash: Ulta's BIPOC brand accelerator program and diversity initiatives have drawn both praise and criticism. Some commentators have questioned whether race-based brand selection programs are appropriate, while others have praised the company for increasing representation in the beauty industry.
• Labor and employment: Ulta has faced lawsuits from employees regarding wage and hour practices, including overtime pay and break time policies. The company has settled some of these cases while contesting others.
• Supply chain and product safety: As a retailer of thousands of products from hundreds of brands, Ulta has been affected by product recalls and safety concerns related to cosmetics ingredients, including PFAS (per- and polyfluoroalkyl substances) found in some beauty products.