Ulta Beauty expands footprint with its first stores in Mexico
This international expansion is a pivotal step in Ulta’s long-term growth strategy, broadening its global footprint and bringing its extensive assortment and immersive beauty services to new markets.
USA – Ulta Beauty has expanded internationally with its debut store openings in Mexico, marking a significant milestone as the company’s first brick-and-mortar presence outside the United States.
The retailer launched its inaugural Mexican location on August 21 at Antara Fashion Hall in Mexico City, quickly followed by a second store opening at Galerías Metepec on August 30.
These store openings are part of a broader strategy to establish several more locations across Mexico by the end of 2025, targeting key cities such as Guadalajara, León, Monterrey, Tijuana, and the State of Mexico, with plans for a total of nine stores nationwide.
The expansion is executed through a strategic partnership with Grupo Axo, a leading Mexican fashion retailer, which enables Ulta Beauty to adapt its global beauty retail model to the vibrant local market.
The stores offer a carefully curated mix of more than 35 beauty brands available in Mexico for the first time, including exclusives such as Isima by Shakira, Peach & Lily, Orebella, and the Ulta Beauty Collection, alongside popular U.S. names like Morphe.
They also highlight local Mexican brands such as AHAL, AloeVida, Bailando Juntos by Yuya, and Sarelly Creativo Lab by Anna Sarelly, reflecting a blend of international appeal and regional relevance.
Ulta Beauty’s CEO and president, Kecia Steelman, stated, “Entering Mexico represents a bold and exciting step for Ulta Beauty as we bring our unparalleled assortment and inclusive shopping experience to beauty lovers in this significant international market.” “
We’re thrilled to partner with Axo to share the brands and services our guests already know and love, while also celebrating and tailoring our offering to the vibrant beauty community in Mexico.”
The brand aims to offer an experience that emphasizes accessibility, trend-driven displays, and fun, making beauty shopping an engaging and community-centric activity for Mexican consumers.
Ulta Beauty recently reported strong financial results for the second quarter of fiscal year 2025, with net sales reaching approximately USD 2.8 billion.
This represented a significant 9.3% increase compared to the same period in the previous year, driven by a 6.7% growth in comparable sales, which measure sales from stores open for at least a year plus e-commerce.
The gross profit margin improved to 39.2%, up from 38.3%, primarily due to reduced inventory shrinkage and improved merchandise margins.
However, operating income stood at USD 344.9 million, representing 12.4% of net sales.
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