Kecia Steelman on competitive strategy
From Ulta Beauty CEO Kecia Steelman: From Hourly Employee to Leading 1,500 Stores · · How Leaders Lead with David Novak
“I think the unfinished business for me is just to continue to widen that moat that separates us from others. Uh I think to continue to be a disruptor in beauty. We were one of the original disruptors uh when Ulta Beauty came to life, you know, 36 years ago of doing beauty a different way than one's ever done before. I still think there's still the next chapter of what that looks like here for us at Ulta Beauty. What's that next generation look like? I believe even leveraging technology and the tools to continue to improve this human interaction.”
On , Kecia Steelman, President, Chief Executive Officer & Director at Ulta Beauty Inc, spoke about competitive strategy during Ulta Beauty CEO Kecia Steelman: From Hourly Employee to Leading 1,500 Stores on How Leaders Lead with David Novak.
About Kecia Steelman
Kecia Steelman, CEO of Ulta Beauty, discussed the company's international expansion and its decision to end its partnership with Target. Steelman stated that Ulta Beauty made an acquisition in the UK, expanded through a partnership in Mexico, and has a licensed partnership in the Middle East, describing a pivot from being only in the US to taking the brand more globally. She said the Target partnership, which will end in August, "played its way out" and that both companies would be better off pursuing independent strategic plans. Steelman also noted that Ulta Beauty has 46.7 million loyalty members, accounting for 95% of sales. In interviews, Steelman reflected on her personal background, including being a single mother living in government housing and earning $8 an hour at Target before becoming CEO. She described the company as "recession resistant" rather than recession proof, stating that people will still want to take care of themselves. Steelman cautioned against over-layering skincare products and emphasized the importance of being a good partner to brands, saying that growing a brand too quickly could "essentially bankrupt" it. She also encouraged employees with what she called the "it factor" to keep pushing for their best selves.