Ulta Beauty creates new holding company

US-based Ulta Beauty implemented a holding company reorganisation on 29 January, the beginning of the company’s new fiscal year.

The reorganisation is intended to create an efficient corporate structure.

However, this plan will not affect the current business operations of Ulta Beauty.

As part of the reorganisation, Ulta Beauty has replaced Ulta Salon, Cosmetics & Fragrance as the publicly traded enterprises while the entire outstanding shares of common stock of Ulta Salon, Cosmetics & Fragrance has automatically got converted into the same number of shares of common stock of Ulta Beauty with all the same rights, powers and preferences, and qualifications, limitations and restrictions.

The company's common stock is recognised under the symbol 'Ulta' and continues to trade on the NASDAQ Global Select Market.

The creation of the new holding company has not led to any change to the directors and executive officers of the company.

Ulta Beauty offers more than 20,000 products, ranging from cosmetics, fragrance, skin, hair care products to salon services.

It houses more than 500 beauty brands, including Ulta Beauty’s own private label.

The company currently operates 974 retail stores across 48 states and the District of Columbia, as well as markets its products through its website.