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Ulta Beauty to Open Four-Level Times Square Store in 2027
Ulta Beauty will open a 27,000-square-foot flagship store in New York’s Times Square late next year. The retailer is paying $400 million for a 15-year lease on the four-level space.
Jul 11, 3:00 AM·1m read1 source
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Ulta Beauty plans to open a four-level, 27,000-square-foot store in New York’s Times Square late next year. The retailer is paying $400 million for a 15-year lease on the space. The store is intended to showcase the company’s house brands, test new products, and serve as a marketing platform for its other locations.
Company executives described the site as a global stage that could support expansion beyond the United States.
Beauty has not released detailed design plans.
Chief Retail Officer Amiee Bayer-Thomas said the flagship would function as a testing ground for marketing efforts and product launches.
Several retailers have closed flagship stores in recent years after determining the high operating costs did not produce sufficient additional sales. Ulta Beauty reported $12.4 billion in revenue last year and 11 percent revenue growth in the first quarter of this year.
The company operates primarily in strip-mall locations and has opened stores in Mexico and the Middle East. Executives said the Times Square store is meant to differentiate Ulta Beauty from competitors that already maintain large urban locations.
