Ulta Beauty announced that its first store outside the United States will open in Kuwait’s The Avenues mall on November 7 2025. The 15,000‑square‑foot location will be operated under a franchise agreement with Alshaya Group, a leading specialty retailer in the region, and will carry more than 300 beauty and wellness brands, many of which will debut in the Middle East for the first time.
The Kuwait store marks Ulta’s inaugural international retail presence and its first franchise operation. It is a cornerstone of the company’s “Ulta Beauty Unleashed” plan, which seeks to diversify revenue, regain market share, and accelerate growth through high‑margin, low‑risk expansion. The Middle East is a high‑growth beauty market with strong consumer spending, making the franchise model an attractive way to capture local demand while leveraging Alshaya’s distribution network and market expertise.
Inside the new store, guests will find a full assortment of cosmetics, haircare, fragrance, and bath products, along with salon services and the Ulta Beauty Rewards program. The design will blend Ulta’s signature “All Things Beauty, All in One Place” concept with local cultural preferences, ensuring a tailored experience for Kuwaiti shoppers.
Ulta’s recent financial performance underscores its capacity for this expansion. In the second quarter of fiscal 2025, the company reported revenue of $2.8 billion—up 9.3% year‑over‑year—and earnings per share of $5.78, a 15.8% beat over analyst expectations. Gross profit margin improved from 38.3% in the same quarter of fiscal 2024 to 39.2% in fiscal 2025, driven by lower shrink and a higher merchandise mix. The company’s Q3 2024 results, with revenue of $2.53 billion and EPS of $5.14, showed modest growth, highlighting the acceleration achieved in the latest quarter.
Ulta plans to open additional stores in the Gulf region, with a location in the Mall of the Emirates slated for January 2026, a second in Dubai Mall for March 2026, and a site in Saudi Arabia’s Red Sea Mall also targeted for March 2026. These openings will build on the Kuwait launch, creating a regional footprint that supports the company’s broader international strategy.
Kecia Steelman, President and CEO of Ulta Beauty, said, “Opening our first Ulta Beauty store in the Middle East is a proud moment for our brand and our partnership with Alshaya Group—and an important step in our global growth journey. The Kuwait store brings to life the unmatched experience our guests, associates, and brand partners have cherished for decades in the U.S., while incorporating unique elements that are important to the local consumer.”
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