Ulta Beauty’s K-Beauty Strategy Boosts Sales by 12.9% in Q3

BREAKING: Ulta Beauty’s strategic investment in K-beauty is yielding impressive results, with a reported 12.9% increase in net sales for the third quarter, totaling $2.9 billion as of Thursday, October 12, 2023. CEO Kecia Steelman confirmed that the growing assortment of K-beauty products is not only driving sales but also attracting a new generation of customers.

In a high-stakes earnings call, Steelman emphasized that K-beauty’s appeal is resonating strongly with consumers, stating, “Our K-beauty assortment continues to drive skincare sales.” The company has expanded its portfolio with exclusive partnerships with popular brands such as Medicube and Peach & Lily, showcasing a diverse range of products that cater to the rising demand for K-beauty trends.

Ulta Beauty is now the exclusive U.S. retailer for Medicube, a brand endorsed by high-profile celebrities like Kylie Jenner and Hailey Bieber. Steelman noted that innovative K-beauty products, including the viral pimple patches from Starface, are gaining traction on social media, enhancing their visibility and appeal among younger consumers.

The company’s efforts in this sector come at a time when the K-beauty market in the U.S. is experiencing explosive growth, with data from NielsenIQ reporting a 37% increase in the K-beauty industry, now valued at $2 billion as of July 2025. Beauty retail experts attribute this surge to the affordability and high quality of K-beauty products, making them accessible to a broader audience.

As Ulta Beauty reports a 6.3% increase in same-store sales year-on-year, its stock price has surged nearly 6% in after-hours trading, reflecting investor confidence. The company’s stock has risen approximately 33% over the past year, indicating a robust market position amidst growing competition.

With the anticipated entry of South Korean beauty giant Olive Young into the U.S. market next year, Ulta Beauty and rival Sephora are racing to secure exclusive partnerships with emerging K-beauty brands. Steelman concluded, “We are moving with agility to build a complementary and largely exclusive pipeline, ensuring we remain at the forefront of this booming market.”

As the K-beauty trend continues to capture consumer attention, Ulta Beauty’s proactive approach positions it favorably for future growth. Investors and beauty enthusiasts alike are closely monitoring these developments, eager to see how the landscape evolves in the coming months.

Stay tuned for more updates on Ulta Beauty’s ongoing successes and the expanding influence of K-beauty in the U.S. market.