Ulta Beauty, otherwise known as Ulta Salon, Cosmetics & Fragrance, Inc., is a retailer of beauty products across the United States. Founded in 1990, the company had 874 stores across the United States in 2015. Operating in the United States means that the company retails in a market that is both significant in size and is continuing to grow. Projections for the revenue of the beauty and personal care industry in the United States from 2009 to 2019 suggest that growth will see revenues breach the 80 billion mark in 2019. There is significant diversity in regards to the distribution channels of beauty retail products. Although grocery retailers and mass merchandisers command the highest share, their combined total remains less than half of the market share in regards to revenue.
However, Ulta Beauty wasn’t always such a force in the health and beauty industry. In fact, the company experienced significant growth in a short space of time between 2011 and 2015. During that period the firm’s revenue increased from 1.78 billion to 3.92 billion per year, while income increased from 120 million to 320 million per year.
Although continued success in any market, let alone beauty, is far from guaranteed, Ulta Beauty have reason to believe their appeal remains strong. A 2016 survey of upper-income teens showed that 20 percent of respondents viewed Ulta as their preferred beauty destination. Possessing significant purchasing power, success with this cohort of consumers may be an asset for Ulta for years to come.
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