Ulta Beauty set to disrupt Manhattan beauty scene with new store
Ulta Beauty has opened its first Manhattan store at 188 East 86th Street in New York. The company is bringing its tried and tested business model to the city, featuring a winning combination of in-store beauty salon treatments and exclusive cosmetic products. Some of those products are offered at very few Manhattan locations, meaning Ulta will be in a prime position to offer something new to its clientele, and corner the market on brands like M.A.C. and Skin Laundry.
Ulta Beauty’s share price has appreciated by 6% in 2017 so far
SOURCE: Yahoo Finance
M.A.C. is an extremely exclusive brand that commands prestige by selling itself only through select agents, of which Ulta Beauty is one. The new store’s general manager, Jennifer Diaferio, has stated that her property will feature a M.A.C. boutique – a prototype of 100 further rollouts across the nation. Skin Laundry is similarly exclusive, and its full facial service is only available at one other Ulta Beauty location. In Manhattan, it will sit alongside the store’s other treatments, like brow services from Benefit and skin services from Dermalogica.
Diaferio explained the company’s appeal – which she thinks will lead to heavy footfall in Manhattan: “Beauty lovers gravitate to our stores because they get an experience they can’t find anywhere else. We offer more brands, categories, services and price points than any other retailer in a bright, open store that allows our guests to experiment and escape in a world of beauty. On top of all of this, our guests obsess over our Ultamate Rewards loyalty program where members earn points for every dollar spent, which can be redeemed on any product we sell at any time of the year. We also give members a birthday gift, access to top trends, tips, special invites to our exclusive events and top-secret offers.”
Dominion holds Ulta Beauty in its Global Trends Luxury Fund.
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