(NEXSTAR) — Ulta Beauty is in a partnership to place shops in over 100 Target stores by mid-2021.
Ulta and Target said Tuesday that the shops will be located next to Target’s existing beauty sections and will mirror the beauty chain’s existing stores.
“In partnership with Ulta Beauty, a company that shares our deep guest focus, we are able to expand our growing beauty business with new, exciting brands, an immersive experience, and loyalty benefits to transform how our guests shop for all their beauty needs,” Brian Cornell, Target chairman and CEO, said in a statement.
Financial terms of the deal weren’t disclosed, but the retailers said they plan to eventually add “hundreds more” stores.
The partnership comes as the coronavirus pandemic has led to an increased customer focus on one-stop shopping experiences as a way to minimize exposure to COVID-19.
“Ulta Beauty at Target reflects further evolution in our omnichannel strategy, rooted in unlocking the potential of our physical and digital footprints, creating more seamless shopping opportunities for our loyal guests and continuing to lead the beauty industry,” Ulta Beauty CEO Mary Dillon said in a statement. “More than ever before, now is the time for innovation in retail.”
The deal, however, could hurt department stores like Macy’s, which had already seen their share of their beauty business eroded even before the pandemic.
Ulta is the nation’s largest beauty chain, and Target says it has reinvented its beauty business in recent years, including expanding its assortment.
The Associated Press contributed to this report.
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