Ulta looks to tech companies for first acquisitions

Ulta looks to tech companies for first acquisitions

US retailer Ulta has announced its first acquisitions with the purchase of two technology start-ups QM Scientific and GlamSt, as well as an investment in digital workflow partner Iterate, and online booking tool, Spruce, according to a report by Chainstorage.com.

Speaking at its investor conference, Ulta said the move will accelerate its online strategy as it stated in a press release that it was looking to build a ‘digital ecosystem’ while the purchase of the start-ups allowed the company to develop its AR and AI capabilities.

Ulta also committed to a two-day fulfilment delivery service by 2021 thanks to the planned opening of a fulfilment centre in 2019 to help online consumers. The retailer will also develop a ship-from-store option.

In retail news the company has said it will develop its store build-out to 1500 to 1700 as opposed to the previous estimation of 1400 to 1700, while the company is due to start selling Kylie Cosmetics from 17th November and Kim Kardashian’s KKW Fragrance as of 25th November.

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