Ulta Beauty and Target on Thursday said they have mutually agreed not to renew their shop-in-shop partnership when the current agreement concludes in August 2026.

As part of the partnership between Ulta Beauty and Target, Target opened more than 600 Ulta stores inside of its own outlets, according to a spokesperson for Target, CNBC reported. The Ulta Beauty shop-in-shops have carried a rotating selection of beauty products and are manned by Target staff.

Target has also carried a selection of Ulta products on its e-commerce store. Shares of both Target and Ulta slid in low single digits following the announcement.

News Credits- FASHION NETWORK