Ulta announces plans to launch in Mexico next year

Ulta announces plans to launch in Mexico next year

THE WHAT? Ulta Beauty has announced plans to launch onto the Mexican market next year. The US beauty chain has entered into a Joint Venture with Axo in order to facilitate its international expansion.

THE DETAILS According to a report published by Retail Dive, the move has been motivated by the success of Ulta’s border stores and, if it goes ahead, will be Ulta’s first international foray after it pulled out of a planned entry to Canada in 2020 citing pandemic closures as the reason.

THE WHY? Ulta CEO, Dave Kimbell told Retail Dive, “The Mexican beauty market is sizeable, growing and has significant beauty opportunity. Our research suggests there us a healthy awareness of the Ulta Beauty brand with local beauty enthusiasts and we also see strong engagement in stores located in geographically adjacent markets.”