What's Inside

Recently, the two biggest beauty retailers in the US, Sephora and Ulta Beauty, announced partnerships with Kohl’s and Target, respectively. We look at the benefits that the partnerships offer each retailer and analyze which retailers are set to gain the most.

This report is part of our Beauty Insights series, which explores prominent or emerging themes and trends in the global beauty market. Click here to read the previous report in the series, in which we discuss beauty brands’ and retailers’ performance during the Singles’ Day 2020 shopping festival, in partnership with CEW.

CONTENTS

What’s the Story?

Why It Matters

Beauty Partnerships: In Detail

• An Overview of the Retailers: Kohl’s, Sephora, Target and Ulta Beauty

• An Overview of the Partnerships

• Benefits to the Beauty Retailers

• Sephora: Expanding Off-Mall Physical Footprint

• Ulta Beauty: Leveraging Target’s Status and Supply Chain

• Access to New Customers—New to the Brands and New to Prestige Makeup

• Benefits to Kohl’s and Target

• Kohl’s: Beauty Category Growth

• Access to Beauty Loyalty-Program Members

• Increased Store Traffic

What We Think