Ulta Beauty makes international store debut with Mexico expansion

Ulta Beauty has opened its first brick-and-mortar stores in Mexico through a partnership with the multi-segment retail company Axo. The move marks the US retailer’s debut in the country. It says it will bring a “thoughtfully curated selection of brands” for Mexican consumers, covering skin care, makeup, fragrance, and hair care.  

The expansion is a part of Ulta Beauty’s strategy to expand its global footprint. Two stores are open in Mexico City, and additional stores are planned to open in Guadalajara, Monterrey, León, Tijuana, and the State of Mexico.  

“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 international market,” says Kecia Steelman, president and CEO of Ulta Beauty. 

“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.”

Fan-favorites and local brands

Ulta Beauty’s Mexico stores retail 35 brands, ranging from “fan-favorites” in the US, such as Morphe, Bubble, About-face, Ouai, Half Magic, and Kitsch, but will also include local Mexican brands such as Ahal, AloeVida, Bailando Juntos by Yuya, and Sarelly Creativo Lab.

“Mexico is home to one of the world’s most dynamic and passionate beauty communities,” says Andrés Gómez, CEO and chairman of the board at Grupo Axo.

Earlier this year, Ulta Beauty entered the UK by acquiring Space NK. The deal was also a part of the US retailer’s international expansion strategy and provided it with immediate access to Space NK’s established retail footprint across the UK and Ireland. Space NK continues to operate as a standalone subsidiary, keeping its leadership and branding intact, but integrating it into Ulta’s global infrastructure and supply chain network.

“International expansion is an integral part of our ‘Ulta Beauty Unleashed’ plan, and the acquisition of Space NK offers a unique and strategically compelling opportunity,” said Ulta CEO Kecia Steelman.

The US retailer recently raised its full-year financial outlook after its Q2 results exceeded expectations. The company reported net sales of US$2.79 billion in the second quarter of fiscal 2025, up 9.3% from last year. Growth across major categories, more customer transactions, and momentum from the recent Space NK acquisition boosted results.