In a recent keynote at the NRF Big Show in Manhattan, Kecia Steelman, the newly appointed president and CEO of Ulta Beauty, shared her vision for the company’s future. Reflecting on her first year in leadership, Steelman emphasized that this new year represents a continuation of her strategic plan called “Ulta Beauty Unleashed.” She noted that this strategy is not just a simple operational plan; it embodies a cultural shift within the organization. Steelman highlighted three key focus areas: boosting the core business, exploring new revenue-generating ventures, and realigning the company’s foundation for sustainable growth. This approach illustrates her commitment to transforming Ulta Beauty into a more dynamic and resilient retailer.
Steelman’s unique background—having started her career on the retail floor—gives her a nuanced understanding of both the challenges and opportunities in the beauty industry. With previous experience at Home Depot and Family Dollar, she brings a comprehensive perspective to her role. This firsthand knowledge shapes her strategic framework, which she believes should resonate across all levels of the company, from individual store associates to the boardroom. Steelman asserts that when employees understand their roles and contributions within the larger mission, everyone’s successes can be celebrated collectively, fostering a sense of unity and purpose within the organization.
At the heart of Steelman’s strategy is a focus on putting both employees and customers first, recognizing that the beauty landscape is evolving rapidly. She pointed out that consumers are increasingly intentional about their purchases, seeking products that resonate with their individual values. Ulta’s response, she explained, involves crafting experiences that are joyful and accessible, even in uncertain times. Looking toward 2026, Steelman aims to deliver meaningful innovation and value, emphasizing the importance of clarity and consistency in navigating the retail space. This consumer-centric mindset is crucial as Ulta Beauty strives to adapt to changing preferences while driving business forward.
In her talk, Steelman also emphasized the need to think in omnichannel terms, aiming to enhance customer interactions across various platforms. Traditional methods of marketing are no longer effective; it’s about establishing a one-to-one connection with consumers using data and advanced technologies. Steelman underscored the role of artificial intelligence in personalizing the shopping experience, suggesting that Ulta should blend retailing with data-driven strategies. This approach supports a seamless shopping journey, helping consumers find products that fit their needs while reaping the benefits of a fully integrated experience.
While e-commerce continues to grow, Steelman noted that a significant portion of Ulta’s revenue—about 80%—still comes from physical stores. To capitalize on this, she has shifted her focus towards wellness, a sector that is outpacing traditional beauty products in growth. She believes that wellness and beauty can coexist without compromising consumer preferences. Steelman also mentioned the success of Ulta’s marketplace model, which offers a platform for diverse wellness products and has encouraged shopper engagement through innovative events partnerships, such as those with Beyoncé and major music festivals. This strategy not only elevates the brand but also connects it deeply with consumer lifestyle choices.
Looking beyond U.S. borders, Steelman shared insights into Ulta’s international expansion strategy, noting acquisitions and joint partnerships that have opened new markets. She expressed her surprise at the level of brand awareness in countries where Ulta previously had no presence, hinting at untapped potential for growth. While she is ambitious about expanding, Steelman emphasized the importance of maintaining focus on the core business to avoid distraction. As she evaluates future opportunities, she remains mindful of the lessons learned by others and is committed to ensuring that Ulta’s foundational business continues to thrive alongside its growth initiatives.
