Diving summary:
Two weeks after announcing a wholesale deal with Walmart, Honest Company is expanding your partnership with Ulta Beauty, according to a company press release.
Honest Beauty will now be sold inside Ulta stores, including more than 635 locations, and is also launching a new skincare line exclusively with the beauty retailer.
The Honest Beauty Clearing Collection, which includes an acne foaming cleanser, acne serum and acne spot treatment, will be available at Ulta stores and online.
Diving information:
The Honest Company is beefing up its list of wholesalers. The brand, which filed an initial public offering in April last year and debuted on the stock market in May, a few weeks ago announced an agreement with Walmart to sell baby and personal care essentials like diapers, wipes and body care products online and in “thousands of Walmart stores this fall.”
Now, the company founded by Jessica Alba is expanding its relationship with Ulta to include the beauty retailer’s physical stores. Alba in a statement called it a “great opportunity” to cater to clean and conscientious beauty shoppers.
“The exclusive launch coupled with an expansion to physical stores solidifies Honest’s omnichannel positioning within the marketplace and gives consumers greater access to its products than ever before,” the company said in its statement.
Ulta has become a popular destination for DTC beauty brands hoping to expand their presence, but it was rival Sephora who reached an agreement with Glossier In the past week. Both specialty retailers have made it part of their strategy to sign exclusive deals with emerging brands, and Ulta’s chief marketing officer, Monica Arnaudo, touted the partnership with Honest Beauty as another way to please clean beauty customers.
“With Honest Beauty’s innovative offerings in our stores and online, we will now offer the opportunity to experience skincare and beauty options that reflect your preferences and deliver great efficacy,” Arnaudo said in a statement.
While Honest Company’s wholesale deals are shaping up, brand losses still drag the retailer down. In 2021, the company reported a loss of $38.7 millionmore than double the net loss a year earlier, which he attributed to initial public offering costs.
The first quarter of 2022, however, recorded a net loss of more than triple, at $15 million. At the time, CEO Nick Vlahos said the “softness” in the company’s digital sales was due to shoppers returning to stores, noting that the company “expects to return to growth over the next three quarters as we introduce new innovations, we expand with new strategic retail sales”. partners and improve the digital experience on Honest.com.”
Source: www.retaildive.com