Beauty Brand Honest Beauty to Distribute Products Through Ulta Retail Outlets
The Honest Company, headed by actress Jessica Alba, has further extended its partnership with Ulta Beauty, according to a press release from the company. The expanded partnership will see Honest Beauty products stocked in over 635 Ulta stores and the debut of a new skincare line, the Honest Beauty Clearing Collection. This line includes an acne foam cleanser, an acne serum, and an acne spot treatment.
Following its initial public offering (IPO) in May last year, the company has been actively expanding its wholesale partnerships. Previously, it announced a deal with Walmart to sell its essential baby and personal care items online and in thousands of Walmart stores starting this fall.
Ulta Beauty has garnered popularity among direct-to-consumer (DTC) beauty brands seeking to expand their presence. While rival Sephora secured a deal with Glossier last week, Ulta views the partnership with Honest Beauty as another means to cater to the growing market of clean beauty consumers. Monica Arnaudo, Ulta's Chief Merchandising Officer, expressed her enthusiasm for the new offerings, stating that they would provide beauty and skincare options that align with consumers' preferences and offer great efficacy.
Although the Honest Company's wholesale deals are progressing, the company reported a loss of $38.7 million in 2021, more than double the previous year's net loss. The first quarter of 2022 saw net loss more than triple to $15 million. Despite this, the company expects to return to growth over the next three quarters with the introduction of new innovations, expansion with strategic retail partners, and improved digital experience on Honest.com.
- Leveraging the success of its initial public offering (IPO), The Honest Company is also looking to expand in other sections, exploring partnerships in finance,ai, lifestyle, fashion-and-beauty, and business industries.
- With the expansion of Honest Beauty products in over 635 Ulta stores and the introduction of the Honest Beauty Clearing Collection, The Honest Company is positioning itself as a key player in the clean beauty market, aiming to cater to both lifestyle and fashion-and-beauty-conscious consumers while striving to return to profitability.
