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BOLINGBROOK, Ill. - Ulta Beauty (NASDAQ:ULTA) will open its first Middle East location at The Avenues in Kuwait on November 7, 2025, the company announced in a press release. The 15,000-square-foot store marks the beginning of the U.S. beauty retailer's regional expansion through its partnership with international retail franchise operator Alshaya Group. The $23.4 billion market cap company has seen its shares surge nearly 35% over the past six months, reflecting investor confidence in its growth strategy.
The Kuwait location will feature over 300 beauty and wellness brands, including several making their Middle East debut. The store will offer Ulta's signature "All Things Beauty, All in One Place" concept with products across various price points and categories, along with makeup, skin, brow and nail services.
"Opening our first Ulta Beauty store in the Middle East is a proud moment for our brand and our partnership with Alshaya Group," said Kecia Steelman, President and CEO of Ulta Beauty.
The company plans to continue its Middle East expansion with locations in the United Arab Emirates at Mall of the Emirates in January 2026 and Dubai Mall in March 2026. Ulta will also enter Saudi Arabia with a store at Red Sea Mall in March 2026.
The Kuwait store's product assortment includes U.S. brands like Ulta Beauty Collection, Morphe, and LolaVie, alongside global favorites such as Peter Thomas Roth and Kiko Milano, as well as local brands including Bex Beauty and Asteri.
Ulta Beauty, founded in 1990, currently operates approximately 1,500 stores across the United States. The Middle East expansion represents a significant step in the company's international growth strategy, which also includes a joint venture in Mexico and its subsidiary Space NK in the U.K. and Ireland. With annual revenue of $11.65 billion and a return on equity of 49%, Ulta has demonstrated strong financial performance. Investors can access Ulta's comprehensive financial health score and seven additional ProTips through InvestingPro's detailed research reports, available for over 1,400 US equities.
In other recent news, Ulta Beauty has launched UB Marketplace, a new curated platform available on its website and app, featuring 100 beauty and wellness brands. This initiative is part of the company's strategy to expand its assortment over the next 12-18 months, integrating seamlessly with Ulta's existing e-commerce experience. Analyst firms have been active in their assessments of Ulta Beauty following these developments. Jefferies maintained a Hold rating with a price target of $550, while Canaccord Genuity raised its price target to $653, highlighting Ulta's focus on customer experience and omni-channel model. UBS reiterated a Buy rating with a $680 price target, citing strong performance from the company's new leadership team. Additionally, TD Cowen identified Ulta Beauty as well-positioned in the retail sector due to the influence of artificial intelligence on shopping patterns. These developments reflect a period of strategic growth and positive analyst attention for Ulta Beauty.
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