Ulta Beauty establishes its own holding company
Previously known as Ulta Salon, Cosmetics & Fragrance, Inc., the company was added to the S&P 500 in April of last year. But even before that, Ulta was gaining ground in terms of sales, doors, and strategic business initiatives. And since then, the company has launched a branded credit card, announced plans for a new ecommerce distribution facility, and actively advanced a company culture centered around its associates and guests.
Credit for much of the beauty retailer’s success goes to CEO Mary Dillion. “Since joining Ulta Beauty as CEO in 2013, Mary Dillon’s leadership has delivered winning results for the retailer,” CEW president Carlotta Jacobson told the press last Summer, “her focus on collaboration and continuous improvement has created this amazing guest-centric, values-based, high-performance culture at Ulta Beauty.”
New name
The holding company was set up on January 29 to coincide with the official start of Ulta’s new fiscal year.
Now rather than being known formally as Ulta Salon, Cosmetics & Fragrance, Inc., the company will simply be Ulta Beauty, Inc. Though common stock traders will see no change; on The NASDAQ Global Select Market the company will still be traded as ULTA.
Same business
The company’s statement to the press announcing the restructuring makes no mention of plans to acquire other relevant companies or become a full-fledged corporate group as is often the approach holding companies take.
Ulta’s statement did note that, “there is no change to the directors and executive officers of the Company as a result of the creation of the holding company” and that “business operations for the Company will not change as a result of the reorganization.”
As of last week, Ulta runs 974 stores in 48 US states and Washington DC. And of course, the company does a robust ecommerce business as well. All told, Ulta caries over 500 beauty brands (including a private label) and some 20,000 products.
