Ulta Beauty, Inc. is an American chain of beauty stores based in Bolingbrook, Illinois, previously known as Ulta Salon, Cosmetics & Fragrance Inc. Ulta Beauty holds brands of makeup and skincare, fragrances for men and women, nail products, bath and body products, beauty equipment and products for hair care. A salon, Profit brow bar, and Dermalogica skin bar are also fitted in each shop. At the moment, Ulta Beauty has 1,196 stores in all 50 states.
Richard E. George, the former president of Osco Pharmacy, Inc., and Terry Hanson founded Ulta Salon, Cosmetics and Fragrance. In 1989, George left work at Osco, starting his attempt to establish a business plan for what would later be Ulta. A new model for retail that provides higher-end and lower-end goods was included in his business plan. Other Osco executives entered the company with George and Hanson, and raised $11.5 million in venture capital and officially launched Ulta in 1990.
Hanson appointed Charles "Rick" Weber, another Osco veteran, as Chief Financial Officer in September 1996. In later years, Terry Hanson became the company's president. In December 1999, the President and Chief Executive Officer was Lyn Kirby, formerly of Sears Circle of Beauty, and Weber became Senior Executive Vice President, Chief Operating Officer and Chief Financial Officer. The two ran the company together until Weber left in September 2006 when he was chosen by Tom Stemberg, founder of Staples, to become Chairman and Chief Executive officer of Rec Room Furniture and Games, Inc. The company became publicly traded on the NASDAQ on October 25, 2007.
A second fulfillment center was opened by the company in 2008 in Phoenix, Arizona. On 26 April 2010, Ulta announced the appointment of Carl 'Chuck' Rubin as Chief Operating Officer, President and Member of the Board of Directors, effective 10 May 2010. Rubin won over $11.1 million in 2010, according to public filings, making him one of Chicago's 20 highest paying CEOs.
Ulta Beauty, Ann Arbor, Michigan
It was announced on June 24, 2013 that Mary Dillon will be named, effective July 1, 2013, as Chief Executive Officer and a member of the Board of Directors. Dillon was formerly the director of the U.S. Cellular and a McDonald's and PepsiCo senior executive.
The company has a net income of $269 million as of February 2017, and has a stock of more than 20,000 products including cosmetics, fragrances, and nail, skin, and hair products. Ulta Beauty offers products in all categories and price points from around 500 beauty brands. Over 35,000 associates are also employed by Ulta, where 88 percent are female.
Ulta Beauty was ultimately built for consumers to go to freestanding shops, such as those located in strip malls, to make them more relaxed shopping in a makeup store, without samples being given out by staff. Ulta had a makeover in 1994 that replaced products and items such as toothbrushes and supplements that were typical of drugstores. Strictly to beauty goods, the store relocated. Ulta Beauty changed its name in 1999 from Ulta3, almost completely transforming the brand.
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