US Edition
US-listed Ulta Beauty swoops on high street chain Space NK
UNITED KINGDOM, JUL 10 – Ulta Beauty expands internationally by acquiring Space NK, gaining 83 stores and an online platform in the UK and Ireland to boost long-term profitable growth, CEO Steelman said.
- Ulta Beauty announced on Thursday it acquired British retailer Space NK, expanding its international footprint with 83 UK stores.
- Following speculation valued at £300-£400 million two months ago, Ulta's acquisition of Space NK aligns with its Ulta Beauty Unleashed plan to expand internationally, particularly into the UK market.
- Ulta funded the acquisition with cash and credit, gaining 83 UK and Ireland stores plus regional online presence.
- Acquiring Space NK boosts Ulta’s UK presence and accelerates its global expansion plans, affecting international growth and market competitiveness.
- Next, Ulta Beauty plans to launch stores in Mexico and the Middle East in late 2025 via joint ventures and licensing agreements with Axó and Alshaya Group.
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Leaning Left1Leaning Right0Center4Last UpdatedBias Distribution80% Center
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80% Center
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