Ulta Beauty Enters UK Market with Acquisition of Space NK

NEW YORK, NY – Ulta Beauty, a major U.S. cosmetics retailer, announced on Thursday the acquisition of Space NK, a British beauty retailer. This move marks Ulta’s strategic entry into the UK market, aligning with its international growth plans.

The financial details of the acquisition, which was completed on July 10, 2025, have not been disclosed, but earlier reports suggest a valuation in excess of £300 million (approximately $408 million). CEO Kecia Steelman expressed excitement about the growth potential, stating, “International expansion is an integral part of our Ulta Beauty Unleashed plan.”

Space NK, founded by Nicky Kinnaird in 1993, operates 83 stores across the UK and Ireland. Bill Fisher, CEO of Manzanita Capital, the previous owner, expressed confidence in Ulta’s ability to elevate Space NK further. “I have every confidence that Ulta Beauty and this terrific management team will take Space NK to new heights,” he stated.

The acquisition allows Ulta to capitalize on the UK beauty market while benefiting from Space NK’s established brand and operational expertise. Under the leadership of CEO Andy Lightfoot, Space NK has pursued a robust growth strategy, focusing on localized retail experiences and expanding its reach.

Before this acquisition, Ulta had already been expanding its international presence, actively operating in Mexico and the Middle East. The purchase of Space NK fits into a larger trend in retail, with other beauty brands, such as Sephora and Harrods, also increasing their UK footprints.

Both companies aim to enhance their global positions amid challenges like geopolitical tensions and changing consumer preferences. The partnership is expected to offer Space NK deeper purchasing power and access to Ulta’s extensive brand network and innovation pipeline.

Lightfoot noted that joining forces with Ulta provides exciting opportunities for growth. “We are energized and excited by the opportunity to join Ulta Beauty and benefit from its scale, brand relationships and resources to further fuel our mission to serve beauty-obsessed consumers through expertise and innovation,” he said.