Marketing Assessment on Ulta Beauty

Ulta Beauty, formerly known as Ulta Salon, Cosmetics and Fragrance, is one of the largest beauty products and services retailers in the United States. It started as a traditional retailing brand, but with technological evolution and the brand's flexibility, it became a virtual brand. It, therefore, functions as both a traditional and virtual brand. The retailing brand offers a wide range of beauty products, including makeup, skincare products, and fragrances worldwide. Ulta Beauty opened its first store in 1990 and has since opened more than 1000 stores. Richard E. George and Terry Hanson were the primary founders of the brand, creating a business plan that stated the purpose of their business; to distribute high-end and low-end beauty products. In 1990, after other partners joined, the business had a starting capital of $11.5 million to launch the brand officially. The first store was launched in Chicago, Illinois, and until 2008, the brand hadn't opened stores in other states. Since its formation, the brand has grown in its capital base, market capital, number of investors, and outlets worldwide. Some of the most attractive qualities of Ulta Beauty are their diversity in product representation, the uniqueness of the architectural designs of their stores, and the core values of the brand that believe in loving their mandate and seeking to grow and improve while providing professional services to customers. I chose the brand because, unlike others, Ulta Beauty has exponentially grown its capital and market base. In addition, I have an interest in venturing into the retailing industry, so an analysis of the brand could help me develop my business plan. Using SWOT analysis and the PESTLE model, the strengths and weaknesses of the company can be identified to make valuable proposals of additions that may improve the operations of the business.