MINNEAPOLIS and
BOLINGBROOK, Ill., Nov. 10, 2020
/PRNewswire/ -- Target Corporation (NYSE: TGT) and Ulta Beauty
(NASDAQ: ULTA) today announced a strategic, long-term partnership
to transform the beauty landscape with Ulta Beauty at
Target. The "shop-in-shop" concept will offer established and
emerging prestige brands online and in select Target locations
nationwide beginning next year.
Target and Ulta Beauty, two trusted retail leaders that excel in
curation, omnichannel engagement and guest-centric experiences,
will together create a new way for beauty enthusiasts to discover
exciting prestige brands. The partnership brings Ulta Beauty's
best-in-class beauty authority to millions of guests who love the
ease and convenience of Target's one-stop shopping experience. It
also provides beauty brands an opportunity to expand and grow in a
new, industry-leading omnichannel retail experience.
"The durable strategy we have built has made Target a top retail
destination. The ease and convenience of our stores and fulfillment
services provide broad reach and relevance for the curated brands
our guests love," said Brian
Cornell, chairman and CEO, Target. "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."
"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. More than ever before, now is the time for
innovation in retail," said Mary
Dillon, CEO, Ulta Beauty.
"This partnership is an amazing way to further reimagine guest
experiences with a partner who shares our company values. We are
thrilled to bring our beauty expertise, unparalleled assortment and
digital innovation to life in a new channel to delight and deepen
loyalty with our existing guests and introduce Ulta Beauty to new
guests."
Ulta Beauty at Target
Ulta Beauty at Target will debut at more than 100 Target
locations starting in 2021, with plans to scale to hundreds more
over time. The planned locations will complement Ulta Beauty's
current store footprint, welcoming new guests to the brand and
building upon Target's existing assortment of beauty options.
The distinctive, branded shop-in-shop will operate as an
extension of the welcoming Ulta Beauty experience, mirroring the
retailers' existing stores and designed to discover established and
emerging prestige brands. With approximately 1,000 square feet of
retail space, Ulta Beauty at Target will be prominently located
next to the existing beauty section.
To bring Ulta Beauty's industry-leading expertise and
established guest-centric experiences to life, the company will
train newly hired Target team members to serve as experts on
prestige beauty offerings, aligning to Target's focus on providing
guest service with deep product expertise. The shop-in-shop is
expected to be enhanced with Ulta Beauty's immersive, in-store
digital discovery tools such as GLAMLab, a virtual try-on tool that
provides safe trial across beauty categories.
Guests who shop Ulta Beauty at Target online will enjoy free
shipping available for qualifying orders as well as Target's
industry leading, same-day fulfillment services, Drive Up, Order
Pickup and Shipt same-day delivery at participating store
locations. As always, Drive-Up and Order Pickup are free on all
orders.
The online experience on Target.com and the Target app will
reflect the look and feel of the elevated Ulta Beauty experience
for an immersive, engaging way to find beauty favorites and new
products. The Ulta Beauty at Target assortment will be available on
Target.com and in select stores in the second half of 2021.
Reaching New Guests
Together, the two leading retailers have more than 100 million
active loyalty program members across Target Circle and Ultamate
Rewards. In addition to bringing guests enhanced offerings and
expertise, the partnership will seek to create compelling,
integrated opportunities to harness the power of these loyal guests
and reward them when they shop at Ulta Beauty at Target.
In recent years, Target has reinvented its beauty business,
including expanding its assortment and creating an engaging
in-store shopping experience. The investments have resulted in
strong category sales and market share gains. Similarly, as the
nation's leading beauty destination and category market share
leader, Ulta Beauty has strong brand awareness and is a top
destination for discovery and services, connecting meaningfully
with teens and the growing, influential Latinx audience.
The partnership between Ulta Beauty and Target is set to
redefine beauty experiences, creating new opportunities for guests
and brand partners and to strategically and collaboratively lead
the retail industry forward.
About Target
Minneapolis-based Target Corporation (NYSE:
TGT) serves guests at nearly 1,900 stores and at Target.com. Since
1946, Target has given 5 percent of its profit to communities,
which today equals millions of dollars a week. For the latest store
count or for more information, visit Target.com/Pressroom. For a
behind-the-scenes look at Target, visit Target.com/abullseyeview or
follow @TargetNews on Twitter.
About Ulta Beauty
Ulta Beauty (NASDAQ: ULTA) is the
largest U.S. beauty retailer and the premier beauty destination for
cosmetics, fragrance, skin care products, hair care products and
salon services. Since 1990, the Company has brought together all
things beauty, all in one place with more than 25,000 products from
approximately 500 well-established and emerging beauty brands
across all categories and price points, including Ulta Beauty's own
private label. Ulta Beauty also offers a full-service salon in
every store featuring hair, skin, brow, and make-up services. Ulta
Beauty operates retail stores across 50 states and also distributes
its products through its website, which includes a collection of
tips, tutorials and social content. For more information,
visit www.ulta.com.
Forward–Looking Statements
Statements in this release
regarding the timing and number of Target stores that will include
Ulta Beauty at Target; the assortment, availability, timing, and
pricing of products available in stores and online; and the
shopping experience and benefits of the strategic partnership are
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Such statements are
subject to risks and uncertainties which could cause actual results
to differ materially from those forward-looking statements. The
most important risks and uncertainties for Target are described in
its public filings with the Securities and Exchange Commission (the
SEC), including risk factors contained in its Annual Report
on Form 10-K for the fiscal year ended February 1, 2020, as such were supplemented in
its Quarterly Report on Form 10-Q for the quarterly period
ended May 2, 2020. The most
important risks and uncertainties for Ulta Beauty are detailed
in its public filings with the SEC, including risk factors
contained in its Annual Report on Form 10–K for the fiscal year
ended February 1, 2020, as such were
amended and supplemented in its Quarterly Report on Form 10-Q for
the quarterly period ended May 2,
2020. Forward-looking statements speak only as of the date
they are made, and neither Target nor Ulta Beauty undertake any
obligation to update any forward-looking statement.
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SOURCE Target Corporation