British premium beauty chain Space NK has caught the attention of the US’ largest specialist beauty retailer, but what will this deal mean for the UK retail landscape?
Last week, Ulta Beauty acquired Space NK from beauty sector investor Manzanita Capital for an undisclosed sum rumoured to top £300m.
Commenting on the deal, Ulta Beauty’s president and CEO Kecia Steelman said the Illinois-headquartered company would “enter the UK market via the Space NK banner.”
She added: “International expansion is an integral part of our Ulta Beauty Unleashed plan, and the acquisition of Space NK offers a unique and strategically compelling opportunity to enter the growing UK market with a successful and growing brand.”
Ulta Beauty is a stateside behemoth, operating 1,451 retail stores across 50 states, as well as distributing products via ulta.com.
Space NK, in contrast, is smaller in scale.
The brainchild of Belfast-born entrepreneur Nicky Kinnaird, Space NK opened its first store in
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