Target TGT +0.7% and Ulta Beauty’s strategic partnership, which was announced simultaneously by both companies in a joint press release, will benefit each company significantly. The agreement, which did not specify a length of time for the partnership, will include shop-in-shop Ulta Beauty stores within 100 Target stores starting mid-year 2021. The stores will be around 1,000 square feet located in the beauty section.
What’s in it for Ulta Beauty
Ulta Beauty will gain immediate access to the large shopper base at Target and be able to expand its store footprint without the investment in physical stores and long-term lease agreements.