(NewsNation) — Target and Ulta Beauty have “mutually agreed” not to renew their partnership, which ends in August 2026.
In a news release issued Thursday, Ulta Beauty and Target confirmed the news, five years after setting up mini-stores in Target across the nation.
“For 35 years, Ulta Beauty has revolutionized how people experience beauty – bringing together an unmatched assortment from mass to luxury – and our partnership with Target was one of many unique ways we have brought the power of beauty to guests nationwide,” Amiee Bayer-Thomas, chief retail officer for Ulta Beauty, said in the statement.
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Target’s chief commercial officer, Rick Gomez, said: “We’re proud of our shared success with Ulta Beauty and the experience we’ve delivered together.”
According to Reuters, Target shares dropped 2% and Ulta Beauty’s shares dropped by 1%.
Target shoppers can still visit the mini stores through the end of the partnership.
