Ulta Beauty is moving forward with its expansion plan in Mexico with Grupo Axo . The American beauty chain, which will enter the country for the first time in 2025, has already defined several strategic locations for this initial phase.
In addition to its upcoming openings in Mexico City and Metepec, the brand plans to open in León, Guadalajara and Monterrey, with dates yet to be confirmed.
In Guanajuato, the store will be located in the Altacia shopping centre; in Jalisco, inside Galerías Guadalajara and finally, for Nuevo León, the brand is targeting the Plaza Fiesta San Agustín complex in Monterrey.
These locations are part of the first phase of the project, which seeks to capitalise on the sustained growth of the beauty market in Mexico, a sector with significant room for development.
In March 2024, FashionNetwork.com reported on the formalisation of the joint venture between Ulta Beauty and Grupo Axo to operate in Mexico.
“After an extensive evaluation, we have prioritised a partnership, an asset-light approach that allows us to move quickly,” said Dave Kimbell, CEO of the company. The executive explained that this model responded to a strategy designed to facilitate a swift and efficient market entry.
Now, following the acquisition of Space NK in the UK, Kecia Steelman, President and CEO of Ulta Beauty, emphasised that international expansion is an integral part of the “Ulta Beauty Unleashed” plan.
