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Ulta Beauty Makes First Acquisitions, Hones Personalization Experience

Ulta Beauty is now doing M&A.
For the first time, the beauty retailer has made two investments and two acquisitions as it works to ramp up personalization. The business has invested in digital workflow partner Iterate and online booking tool Spruce, and acquired two businesses — QM Scientific and GlamST — which will allow Ulta to better build out its augmented reality and artificial intelligence capabilities, especially as it relates to personalization.
“Both GlamST and QM Scientific bring technology leadership, guest experience, focused capabilities and the right cultural fit,” said Prama Bhatt, Ulta’s senior vice president of digital and e-commerce. “We now own the technology assets to support our digital experience roadmap.”
She spoke at Ulta Beauty’s investor day on Thursday, where the acquisitions were unveiled. “We may continue to look at M&A as a way to acquire capabilities,” said Scott Settersten, chief financial officer, though he noted the company does not anticipate M&A will be an enormous part of the overall strategy.
Personalization was one of the big themes of the day, as was the expansion of digitally native brands with Ulta and the company’s digital initiatives.
Ulta has long talked about its customer as a beauty enthusiast, but going forward, is working to

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Via:: https://wwd.com/beauty-industry-news/beauty-features/ulta-beauty-first-acquisitions-hones-personalization-experience-1202902424/