Ulta Beauty has nabbed another buzzy brand.
The Inkey List, the no-frills beauty brand, is bringing more than 50 stock keeping units across skin, body and hair care to the retailer starting July 13. The retail deal complements existing U.S. distribution in Sephora and Amazon, and elsewhere is sold in more than 30 markets globally.
Industry sources estimate the brand to reach a $200 million retail sales volume in 2026.
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Though chief executive officer and cofounder Mark Curry didn’t comment on the estimates, he did note that the brand has been ramping up innovation — and distribution to boot — since he reassumed the CEO job last year.
“The innovation piece is working, and newness is keeping the consumer engaged,” Curry said, pointing to recent launches like its exosome-rich glow serum that debuted in the first quarter. “In every market we’re in, it’s a free brawl. But newness is keeping and capturing the consumer.”
“I think there’s a maturity and a confidence level at this point where we know, gut-feel, what’s happening and what the consumer’s wanting and getting out there at the right time,” added Colette Laxton, the brand’s cofounder. “In terms of key consumers, we’re balanced between Gen Z and Millennial.”
Curry acknowledged that globally, skin care has slowed down from its pandemic heyday. “We had this stellar time in skin care that we always knew was going to normalize,” he said. “We’ve been in the same space for the past few years, been very consistent in terms of messaging and not getting extra distribution.”
In line with that, Laxton said the timing of the Ulta launch dovetailed with broader consumer sentiment and tightening spend. “People are having to make decisions on what they’re buying and what they’re spending money on,” she said. “Accessibility of distribution to the masses is more important than ever. And actually, unlocking that distribution means we can unlock a whole new customer.”
Penny Coy, senior vice president of merchandising at Ulta, said via email, “Our guests are constantly looking to upgrade their skin care routines, especially as these daily rituals become a form of self care. As the nation’s largest beauty retailer, we want to ensure our assotment reflects their beauty needs and goals, which is why The Inkey List is the perfect addition to our growing assortment.”
Curry thinks the Ulta consumer will fall in similar demographics to its existing shopper, but psychographically behaves differently.
“The idea has always been to be a prestige brand with mass appeal,” Curry said. “We think both is doable. We’ve been able to demosntrate that in the U.K. as our parent market, but it’s time to spread those wings in the U.S. and beyond.”
The brand will be merchandised in Ulta’s clinical skin care section, and at launch will be debuting at over 200 endcaps before rolling out to full distribution. “We’ve got to fish where the fish are,” Curry said.
Curry and Laxton will also be touring the U.S. on what they’ve named the “No B.S.” tour, where the duo visit key markets in the U.S. to both attract new brand loyalists and cater to existing ones. “We’re all about educating people on the basics,” Laxton said. “We’ll have this tongue-in-cheek skin care support group where we talk about all the skin mistakes we’ve made, and how we’re here to help get you back to basics.”