Overview
- Target and Ulta have mutually agreed not to renew their shop‑in‑shop partnership, which ends in August 2026, and Ulta product placement and linked Ulta Rewards will remain available at Target until that date.
- Beginning this fall, Target will open Target Beauty Studio in more than 600 stores with plans to expand the concept to additional locations over time.
- Target says the new studio will feature a curated mix of more than 80 global and emerging brands, including over 60 brands new to Target, plus exclusive product launches and trend‑focused displays.
- The retailer plans dedicated beauty staff and beauty‑specific Target Circle rewards and is testing operational models to support the format as it takes full control of assortment and the customer experience.
- Analysts point to messy in‑store operations, theft and staffing shortfalls as drivers of the split and expect Target’s move to intensify competition while Ulta focuses on standalone store growth and opening more locations each year.