Ulta Beauty is set to open its first Manhattan location.
The beauty retailer has been expanding rapidly, with plans to open about 100 retail locations per year but so far has focused mainly on suburban markets. The New York location, on the Upper East Side at 184 East 86th Street at Third Avenue, will compete with other beauty retailers in the neighborhood — mainly Sephora, which has a location at 144 East 86th Street, just down the block, and Bluemercury, which has a location two blocks north. In contrast to both of those specialty stores, Ulta sells a combination of mass and prestige beauty products, plus offering salon services and products. The New York store opens in fall 2017.
“We are very excited to open an Ulta Beauty location in Manhattan,” said Ulta’s chief executive officer Mary Dillon. “Our stores offer a unique shopping experience with a highly differentiated product assortment across all categories and price points and a full-service salon in every location. We look forward to bringing all things beauty, all in one place to guests in Manhattan.”
The business has 40 stores in the greater New York area, and opened a pop-up in Manhattan’s SoHo neighborhood in October. Back at Ulta’s investor day in October, the business raised its outlook for store expansion from 1,400 stores to 1,700 stores — the retailer has about 949 doors as of the end of the third quarter.
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For its fiscal third quarter, Ulta reported net income of $87.6 million, a 7.7 percent increase from the prior-year period. Net sales were up 24.3 percent from $910 million to $1.1 billion for the quarter. A big part of Ulta’s gains were it’s e-commerce sales, which grew by 59.1 percent to $73.6 million for the quarter. In that vein, the retailer has said it will continue to focus on building out it’s mobile operations. “It really is the core of our innovation efforts in making our mobile both easy and intuitive commerce applications so she can find what she’s looking for and transact very easily, but also importantly content — from things as simple to finding a local store and seeing if the product she’s looking for is available — to new trends, to trying on new products in our new Glam Lab application,” said Ulta’s chief merchandising and marketing officer Dave Kimbell.