Ulta Beauty has acquired British retailer Space NK, marking the US-based company’s strategic entry into the United Kingdom. The announcement on Thursday confirmed the move, which aligns with Ulta’s broader international growth ambitions. Financial terms of the transaction were not disclosed.
“International expansion is an integral part of our Ulta Beauty Unleashed plan, and the acquisition of Space NK offers a unique and strategically compelling opportunity to enter the growing UK market with a successful and established brand,” said Kecia Steelman, President and CEO of Ulta Beauty.
The UK now joins Mexico and the Middle East as key international territories for Ulta, which has been pursuing global expansion under Steelman’s leadership since January 2025.
The acquisition ends a 23-year chapter for Space NK under the ownership of beauty sector investor Manzanita Capital, which has also funded brands such as Byredo and Diptyque. “I have every confidence that Ulta Beauty and this terrific management team will take Space NK to new heights,” said Bill Fisher, CEO and founder of Manzanita Capital.
The deal follows a period of strong momentum for Ulta, which posted a 4.4% year-over-year increase in net sales to $2.8 billion for the quarter ending May 3, 2025. In the competitive US market, Ulta has differentiated itself with exclusive launches from brands like Beyoncé’s Cecréd and Dibs Beauty. The company has also invested heavily in its in-store experience through brand-led workshops and live events, while scaling up marketing to compete with rivals such as Sephora, Amazon, and TikTok Shop.
Ulta’s move into the UK follows a wider trend of retail expansion in the region, with Sephora, Flannels Beauty, and Harrods’s H Beauty all increasing their footprints over the past year. The acquisition of Space NK, which first opened as a standalone store in London in 1993, will now significantly strengthen Ulta’s presence in a key global beauty market.
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