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THE WHAT? Ulta Magnificence has introduced plans to launch onto the Mexican market subsequent 12 months. The US magnificence chain has entered right into a Joint Enterprise with Axo as a way to facilitate its worldwide growth.
THE DETAILS Based on a report printed by Retail Dive, the transfer has been motivated by the success of Ulta’s border shops and, if it goes forward, can be Ulta’s first worldwide foray after it pulled out of a deliberate entry to Canada in 2020 citing pandemic closures as the rationale.
THE WHY? Ulta CEO, Dave Kimbell advised Retail Dive, “The Mexican magnificence market is sizeable, rising and has vital magnificence alternative. Our analysis suggests there us a wholesome consciousness of the Ulta Magnificence model with native magnificence fanatics and we additionally see sturdy engagement in shops situated in geographically adjoining markets.”
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