Ulta Beauty Opens First Store in UAE, Plans Expansion to Dubai and Jeddah by 2026
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 23 2026
0mins
Should l Buy ULTA?
Source: Benzinga
- UAE Store Opening: Ulta Beauty announced its first store opening at Mall of the Emirates on January 29, 2026, marking a significant entry into the Middle Eastern market, which is expected to attract a large local customer base.
- Diverse Product Offering: The new store will feature a wide range of products including cosmetics, skincare, and fragrances from well-known brands such as Ulta Beauty Collection and Morphe, aiming to meet the diverse beauty needs of UAE consumers.
- Launch Celebration Events: The opening day will feature special events with regional celebrities like Nadine Njeim, and activities will continue until February 7, including product demonstrations and showcases of local entrepreneurs, enhancing brand visibility.
- Strategic Expansion Plans: Following the UAE store launch, Ulta Beauty plans to expand to Dubai Mall and Red Sea Mall in Jeddah in 2026, demonstrating its long-term commitment and growth potential in the Middle Eastern market.
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Analyst Views on ULTA
Wall Street analysts forecast ULTA stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for ULTA is 647.83 USD with a low forecast of 450.00 USD and a high forecast of 780.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
22 Analyst Rating
15 Buy
6 Hold
1 Sell
Moderate Buy
Current: 677.910
Low
450.00
Averages
647.83
High
780.00
Current: 677.910
Low
450.00
Averages
647.83
High
780.00
About ULTA
Ulta Beauty, Inc. is a specialty United States beauty retailer and the premier beauty destination for cosmetics, fragrance, skincare products, haircare products and salon services. The Company operates approximately 1,451 retail stores across 50 states and distributes products through its Website, which includes a collection of tips, tutorials, and social content. The Company’s business includes a differentiated assortment of approximately 29,000 beauty products across a variety of categories and price points, as well as a variety of beauty services, including salon services, in more than 1,400 stores predominantly located in convenient, high-traffic locations. It also offers digital experiences delivered through its Website, Ulta.com, and its mobile applications. The Company’s brands include Ulta Beauty Collection, about-face, Ariana Grande, CHANEL, FENTY BEAUTY by Rihanna, It Cosmetics, LolaVie, OUAI, PAT McGRATH LABS, Tula, and NYX Professional Makeup.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Diverse Product Offering: The new store will feature a wide range of products including cosmetics, skincare, and fragrances from well-known brands such as Ulta Beauty Collection and Morphe, aiming to meet the diverse beauty needs of UAE consumers.
- Launch Celebration Events: The opening day will feature special events with regional celebrities like Nadine Njeim, and activities will continue until February 7, including product demonstrations and showcases of local entrepreneurs, enhancing brand visibility.
- Strategic Expansion Plans: Following the UAE store launch, Ulta Beauty plans to expand to Dubai Mall and Red Sea Mall in Jeddah in 2026, demonstrating its long-term commitment and growth potential in the Middle Eastern market.
See More
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- Partnership Strategy: The store opening is in collaboration with Alshaya Group, one of the world's leading retail franchise operators, which not only strengthens Ulta's market penetration in the Middle East but also lays the groundwork for future expansions.
- Comprehensive Beauty Experience: The new store will offer a wide range of products including makeup, skincare, haircare, and fragrances, along with professional makeup, skincare, brow, and nail services, aiming to provide a one-stop shopping experience that enhances customer satisfaction.
- Marketing Initiatives: To celebrate its debut in the UAE, Ulta Beauty will roll out a series of dynamic pre-launch and launch-week events at Mall of the Emirates, spotlighting local beauty brand founders, further strengthening the brand's connection with the local market.
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- Increased Consumer Engagement: By boosting foot traffic, Ulta is driving organic sales growth, with retail sales up 3% year-over-year, indicating strong consumer demand for its products.
- Loyalty Program as Growth Driver: Ulta's loyalty program effectively attracts customers, increasing their shopping frequency and thereby enhancing market share and shareholder returns.
- Arista Networks Risks Emerging: Arista faces margin compression and high customer concentration issues; despite a backlog of $18.5 billion in orders, intense competition threatens its profitability.
See More
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- Enhanced Profitability: Adjusted earnings per share (EPS) surged 68% from $0.74 to $1.24, surpassing the analyst expectation of $0.72, reflecting the company's success in cost control and operational efficiency.
- Market Share Expansion: The e.l.f. brand gained 130 basis points in the mass cosmetics market, with U.S. and international revenues rising 36% and 44% respectively, despite weak consumption in the U.K., showcasing the brand's global appeal.
- Optimistic Outlook: The company raised its fiscal 2026 sales guidance to a growth range of 22% to 33%, expecting Rhode to contribute $260 million to $265 million in revenue, demonstrating confidence in future growth and strategic positioning.
See More
e.l.f. Beauty Reports Strong Q3 Results Exceeding Expectations
- Significant Sales Growth: e.l.f. Beauty's Q3 sales soared 38% year-over-year to $489.5 million, easily surpassing the analyst consensus of $460 million, indicating strong market demand and brand appeal.
- Improved Profitability: Adjusted earnings per share (EPS) surged 68% from $0.74 to $1.24, exceeding the analyst estimate of $0.72, reflecting the company's success in cost control and operational efficiency.
- Rhode Brand Contribution: The Rhode brand contributed $128 million in revenue during the quarter, bolstered by its successful launch at Sephora, further solidifying e.l.f.'s position in the rapidly growing beauty market.
- Optimistic Outlook: e.l.f. raised its fiscal 2026 sales guidance to an increase of 22% to 33%, with Rhode expected to contribute $260 million to $265 million in revenue, demonstrating the company's confidence in future growth and strategic positioning.
See More
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- Market Share Growth: e.l.f. Beauty has successfully captured market share in the mass cosmetics industry through a fast-follower strategy and influencer marketing, particularly leveraging strong distribution networks at Target and Ulta Beauty, driving U.S. consumption growth close to 12%.
- Acquisition Strategy: The recent acquisition of premium skincare brand Rhode, which achieved over $200 million in sales in less than three years, is expected to further drive sales growth through increased distribution and product promotion, especially in LVMH's Sephora stores.
- International Expansion Opportunities: Although e.l.f. is still in the early stages of international expansion, its global growth rate is around 8%, indicating strong international demand, with future potential to enhance market share by increasing shelf space at Walmart.
- Attractive Stock Valuation: With e.l.f. stock down about 40% from its highs, it trades at a forward P/E ratio of 26.5 and a PEG ratio below 0.5, indicating undervaluation; combined with future growth opportunities, now is an excellent time to buy the stock.
See More
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- UAE Store Opening: Ulta Beauty announced its first store opening at Mall of the Emirates on January 29, 2026, marking a significant entry into the Middle Eastern market, which is expected to attract a large local customer base.
- Diverse Product Offering: The new store will feature a wide range of products including cosmetics, skincare, and fragrances from well-known brands such as Ulta Beauty Collection and Morphe, aiming to meet the diverse beauty needs of UAE consumers.
- Launch Celebration Events: The opening day will feature special events with regional celebrities like Nadine Njeim, and activities will continue until February 7, including product demonstrations and showcases of local entrepreneurs, enhancing brand visibility.
- Strategic Expansion Plans: Following the UAE store launch, Ulta Beauty plans to expand to Dubai Mall and Red Sea Mall in Jeddah in 2026, demonstrating its long-term commitment and growth potential in the Middle Eastern market.
See More
Ulta Beauty (ULTA) Expands to UAE with Mall of the Emirates Store Opening on January 29
- Global Expansion Milestone: Ulta Beauty announced its new store opening at Mall of the Emirates on January 29, marking a significant step in its Middle Eastern expansion, which is expected to attract a large local customer base and enhance brand visibility.
- Partnership Strategy: The store opening is in collaboration with Alshaya Group, one of the world's leading retail franchise operators, which not only strengthens Ulta's market penetration in the Middle East but also lays the groundwork for future expansions.
- Comprehensive Beauty Experience: The new store will offer a wide range of products including makeup, skincare, haircare, and fragrances, along with professional makeup, skincare, brow, and nail services, aiming to provide a one-stop shopping experience that enhances customer satisfaction.
- Marketing Initiatives: To celebrate its debut in the UAE, Ulta Beauty will roll out a series of dynamic pre-launch and launch-week events at Mall of the Emirates, spotlighting local beauty brand founders, further strengthening the brand's connection with the local market.
See More
