Walk into any Ulta on a Saturday, and you’ll see the ritual in full swing.
Teens hovering by the NYX aisle, moms eyeing anti-aging serums, someone getting their brows tinted in the corner. It’s a mix of chaos and curation: part salon, part Sephora, part drugstore haul.
And for years, it’s been strictly a U.S. phenomenon.
Sure, Ulta’s loyalty program has millions of members. And yes, it dominates in suburbs and strip malls from coast to coast. But globally? Ulta’s footprint has been basically nonexistent.
That’s what makes this next move such a shock.
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Because instead of quietly testing an international store or easing into a new market, the company just made an aggressive move — one that skips the trial phase entirely.
It’s not a subtle shift, and it’s not just about expansion. This is about planting a flag in a new region…fast.
The approach is bold, unexpected, and could mark a turning point for the brand’s global future.
Whatever the outcome, one thing is clear: Ulta is about to get its first passport stamp.
Ulta is breaking out of its domestic bubble.
Image source: Chicago Tribune/Getty Images
Ulta Beauty acquires UK-based Space NK
Ulta Beauty announced it’s acquiring Space NK, a British luxury beauty retailer with 83 stores across the UK and Ireland.
Space NK will continue to operate under its own name, with CEO Andy Lightfoot and his team staying on to run the brand. The deal gives Ulta an immediate presence across the Atlantic without having to build anything from scratch.
Ulta funded the acquisition using cash and its existing credit line, and said the move won’t impact its other investments for the year.
In other words, this isn’t a gamble — it’s a calculated acceleration.
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CEO Kecia Steelman called the move “strategically compelling” and emphasized Space NK’s “differentiated beauty experience” and “tailored product mix.”
Ulta’s been teasing international ambitions for a while now, including planned expansions into Mexico and the Middle East. But this marks the company’s first actual entry into Europe: a market with plenty of beauty-savvy shoppers and a hunger for more retail innovation.
For Space NK, Ulta offers scale. For Ulta, Space NK offers access. And together, they create a fast-tracked runway for international growth.
Retail slowdown pushes Ulta Beauty toward international growth
Ulta’s U.S. growth engine isn’t sputtering, but it’s definitely shifting.
The company is still opening stores, but at a much slower pace than it did in the 2010s. It’s also facing fresh pressure from Sephora, which has aggressively expanded via Kohl’s shop-in-shops and continues to claw at market share.
Meanwhile, the post-pandemic beauty boom has cooled. Ulta’s Q1 sales were up just 4.5%, and both 2024 and 2025 have been labeled “transitional years” by the company itself.
This acquisition gives Ulta a new growth lever — one that sidesteps its domestic saturation and puts the company in front of a new, untapped audience.
And it isn’t just a defensive play.
As retail analyst Neil Saunders pointed out, Space NK operates in a more premium tier than Ulta and brings with it a “ready-made international business.” That kind of built-in infrastructure is rare — and valuable.
With the global beauty and personal care market projected to reach nearly $800 billion by 2030, Ulta’s timing is on point.
Whether Space NK becomes a long-term crown jewel or a stepping stone, one thing is clear: Ulta isn’t waiting around. It’s going global…and doing it fast.