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Clearly not since they're putting this initiative on pause. If the customer base Venn diagram was a perfect overlap, this partnership would be a resounding success and they'd be expanding it. The fact they're going in the opposite direction means it's not going as well as both companies would have hoped, although some of that is likely because Target is struggling across the board right now.
This story has a lot more to do with Ulta than with Target. It sounds like they might have been expanding too quickly. Perhaps they're doing the smart thing and slowing the expansion plans. Makes the stores you've got work and then worry about going beyond those numbers.
Have always thought ulta + kohls and target + sephora would actually appeal more to the respective customer bases. I do think target attracts a largely female shopper who goes in with a “little treat” mindset (meaning she might need house essentials but will pick up a pretty, moderately priced throw pillow or a fun top). The issue is that Target carries drugstore++, which overlaps significantly with ulta’s drugstore + less expensive side of sephora business model. They cannibalize instead of complement each other.
Yeah, I know everyone thought target and ultra beauty would be a great brand collaboration, but Ulta is a lot more high-end or expensive than what the average target customers spends on cosmetics at least with kohl’s and Sephora. The price ranges closer to what people expect to pay, but yeah it’s it’s ultra just too expensive to go on a target.
Growing up in the midwest, Target and Ulta were often physically located near each other—even next door in strip malls. I would often pop back and forth between Ulta and Target to compare product and prices and found they carried similar products at similar prices with Ulta having more variety, inventory and range. The collaboration actually makes perfect sense to me. And for what it’s worth, Kohls feels significantly less relevant than Target, Ulta and Sephora to me.