Ulta Beauty and Target on Thursday said they have mutually agreed not to renew their shop-in-shop partnership when the current agreement concludes in August 2026.
Ulta Beauty retails a multi-brand selection of cosmetics
As part of the partnership between Ulta Beauty and Target, Target opened more than 600 Ulta stores inside of its own outlets, according to a spokesperson for Target, CNBC reported. The Ulta Beauty shop-in-shops have carried a rotating selection of beauty products and are manned by Target staff.
Target has also carried a selection of Ulta products on its e-commerce store. Shares of both Target and Ulta slid in low single digits following the announcement.
