Latest / Omni Talk Retail / Ulta SVP Josh Friedman On The Recent Success Of Its Invite-Only Marketplace | NRF 2026

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Ulta SVP Josh Friedman On The Recent Success Of Its Invite-Only Marketplace | NRF 2026 · Omni Talk Retail

• 0:00
  Joining
• 0:00
  us
• 0:00
  now
• 0:01
  for
• 0:01
  five
• 0:01
  insightful
• 0:02
  minutes
• 0:02
  live
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  from
• 0:03
  the
• 0:03
  Vuzion
• 0:04
  podcast
• 0:04
  studio
• 0:05
  at
• 0:05
  NRF
• 0:05
  is
• 0:06
  Josh
• 0:06
  Friedman.
• 0:07
  Josh
• 0:07
  is
• 0:07
  the
• 0:07
  SVP
• 0:08
  of
• 0:08
  digital
• 0:08
  and
• 0:08
  E
• 0:08
  commerce
• 0:09
  at
• 0:09
  Ulta
• 0:09
  Beauty,
• 0:10
  and
• 0:10
  this
• 0:11
  is
• 0:11
  the
• 0:11
  second
• 0:11
  time
• 0:12
  he's
• 0:12
  interviewing
• 0:12
  with
• 0:13
  us,
• 0:13
  and
• 0:14
  he
• 0:14
  is
• 0:14
  here
• 0:14
  to
• 0:14
  discuss
• 0:15
  Ulta's
• 0:15
  recent
• 0:16
  marketplace
• 0:16
  initiative.
• 0:17
  Josh,
• 0:18
  welcome
• 0:18
  back
• 0:18
  to
• 0:18
  omnitalk.
• 0:19
  And
• 0:19
  let's
• 0:20
  start
• 0:20
  with
• 0:20
  this.
• 0:21
  Thank
• 0:21
  you.
• 0:21
  Tell
• 0:21
  us
• 0:22
  why
• 0:22
  Ulta
• 0:23
  thought
• 0:23
  it
• 0:23
  was
• 0:24
  important
• 0:24
  for
• 0:25
  the
• 0:25
  business
• 0:25
  to
• 0:25
  prioritize
• 0:26
  a
• 0:26
  marketplace
• 0:27
  initiative.
• 0:28
  Yeah.
• 0:28
  Well,
• 0:28
  last
• 0:29
  time
• 0:29
  we
• 0:29
  talked,
• 0:29
  we
• 0:29
  were
• 0:29
  talking
• 0:30
  about
• 0:30
  this
• 0:30
  concept.
• 0:31
  Conceptually.
• 0:31
  I
• 0:31
  remember
• 0:32
  we're
• 0:33
  here,
• 0:34
  and
• 0:34
  a
• 0:35
  lot
• 0:35
  of
• 0:35
  the
• 0:35
  things
• 0:35
  that
• 0:35
  we
• 0:36
  were
• 0:36
  strategically
• 0:37
  looking
• 0:37
  at
• 0:37
  are
• 0:37
  still
• 0:38
  true.
• 0:38
  We
• 0:39
  wanted
• 0:39
  a
• 0:40
  platform
• 0:40
  where
• 0:40
  we
• 0:41
  could
• 0:41
  bring
• 0:42
  more
• 0:42
  brands
• 0:42
  and
• 0:42
  more
• 0:43
  importantly,
• 0:43
  more
• 0:43
  categories
• 0:44
  to
• 0:44
  life
• 0:44
  for
• 0:44
  our
• 0:45
  customers.
• 0:46
  Our
• 0:46
  guests
• 0:46
  ask
• 0:46
  us
• 0:47
  all
• 0:47
  the
• 0:47
  time
• 0:48
  if
• 0:48
  they
• 0:48
  can
• 0:48
  buy
• 0:49
  other
• 0:49
  things
• 0:49
  that
• 0:49
  are
• 0:50
  adjacent
• 0:50
  to
• 0:50
  the
• 0:50
  beauty
• 0:51
  category,
• 0:51
  especially
• 0:52
  wellness,
• 0:52
  but
• 0:53
  grooming,
• 0:54
  beauty,
• 0:55
  tech,
• 0:55
  all
• 0:55
  these
• 0:55
  other
• 0:56
  types
• 0:56
  of
• 0:56
  categories
• 0:56
  that,
• 0:57
  quite
• 0:57
  honestly,
• 0:57
  we
• 0:57
  just
• 0:57
  don't
• 0:58
  have
• 0:58
  room
• 0:58
  on
• 0:58
  the
• 0:58
  quote,
• 0:58
  unquote,
• 0:59
  main
• 0:59
  floor
• 0:59
  of
• 1:00
  our
• 1:00
  store.
• 1:00
  Yeah.
• 1:00
  So
• 1:01
  we
• 1:01
  wanted
• 1:01
  to
• 1:01
  build
• 1:01
  what
• 1:01
  we
• 1:02
  call
• 1:02
  the
• 1:02
  digital
• 1:02
  mezzanine
• 1:03
  for
• 1:03
  all
• 1:03
  of
• 1:03
  these.
• 1:03
  Digital
• 1:04
  mezzanine
• 1:04
  for
• 1:05
  all
• 1:05
  these
• 1:05
  other
• 1:05
  categories.
• 1:06
  And
• 1:06
  that's
• 1:07
  what
• 1:07
  we've
• 1:07
  done.
• 1:07
  We're
• 1:08
  now
• 1:08
  150
• 1:08
  brands
• 1:09
  strong
• 1:10
  into
• 1:10
  our
• 1:10
  journey
• 1:11
  and
• 1:11
  really
• 1:12
  seeing
• 1:12
  great
• 1:12
  results.
• 1:13
  Well,
• 1:14
  your
• 1:14
  strategy
• 1:15
  for
• 1:15
  selecting
• 1:15
  marketplace
• 1:16
  sellers
• 1:16
  for
• 1:16
  that
• 1:17
  mezzanine
• 1:18
  from
• 1:18
  the
• 1:18
  outside
• 1:19
  appears
• 1:19
  to
• 1:19
  be
• 1:20
  highly
• 1:21
  strategic,
• 1:21
  Josh,
• 1:22
  and
• 1:23
  that
• 1:24
  has
• 1:24
  some
• 1:24
  nuance.
• 1:25
  Can
• 1:25
  you
• 1:25
  summarize
• 1:26
  the
• 1:26
  strategy
• 1:26
  and
• 1:26
  explain
• 1:27
  why
• 1:27
  you
• 1:28
  went
• 1:28
  the
• 1:28
  route
• 1:29
  that
• 1:29
  you
• 1:29
  did?
• 1:29
  Yeah,
• 1:30
  we
• 1:30
  really
• 1:30
  did.
• 1:30
  I
• 1:31
  men
• 1:31
  very
• 1:31
  curated.
• 1:32
  We're
• 1:32
  only
• 1:32
  looking
• 1:33
  for
• 1:33
  adjacent
• 1:34
  categories.
• 1:34
  We
• 1:35
  do
• 1:35
  also
• 1:36
  look
• 1:36
  for
• 1:36
  some
• 1:37
  up
• 1:37
  and
• 1:37
  coming
• 1:38
  brands,
• 1:38
  global
• 1:38
  brands,
• 1:39
  in
• 1:39
  our
• 1:39
  core
• 1:39
  categories,
• 1:40
  but
• 1:40
  it's
• 1:40
  really
• 1:40
  about
• 1:40
  the
• 1:40
  adjacent
• 1:41
  ones.
• 1:41
  And
• 1:42
  then
• 1:42
  we
• 1:42
  are
• 1:42
  completely
• 1:43
  invite
• 1:43
  only,
• 1:43
  so
• 1:44
  we
• 1:44
  do
• 1:44
  not
• 1:45
  open
• 1:46
  up
• 1:46
  to
• 1:46
  sellers,
• 1:47
  distributors,
• 1:48
  only
• 1:48
  the
• 1:48
  ones
• 1:49
  that
• 1:49
  we
• 1:49
  reach
• 1:49
  out
• 1:49
  to,
• 1:50
  and
• 1:50
  we
• 1:50
  invite
• 1:51
  in.
• 1:51
  And
• 1:52
  that's
• 1:53
  been
• 1:53
  working
• 1:53
  really
• 1:53
  well
• 1:53
  for
• 1:54
  us.
• 1:54
  Huge.
• 1:54
  And
• 1:54
  Beauty,
• 1:55
  we
• 1:55
  thought
• 1:55
  that
• 1:55
  was
• 1:55
  really
• 1:56
  important
• 1:56
  for
• 1:56
  us
• 1:57
  to
• 1:57
  make
• 1:57
  sure
• 1:58
  that
• 1:58
  our
• 1:58
  guests
• 1:58
  felt
• 1:59
  confident
• 2:00
  that
• 2:00
  everything
• 2:00
  we
• 2:00
  were
• 2:01
  selling@
• 2:01
  Ulta.com
• 2:02
  was
• 2:02
  authentic
• 2:03
  and
• 2:03
  exactly
• 2:04
  what
• 2:04
  they
• 2:04
  were
• 2:04
  hoping
• 2:04
  for.
• 2:05
  We
• 2:06
  don't
• 2:06
  really
• 2:07
  want
• 2:08
  to
• 2:08
  play
• 2:08
  in
• 2:08
  diversion
• 2:09
  or
• 2:09
  any
• 2:09
  other
• 2:09
  types
• 2:10
  of
• 2:12
  categories
• 2:12
  like
• 2:12
  that.
• 2:13
  So
• 2:13
  we
• 2:14
  take
• 2:14
  a
• 2:14
  lot
• 2:15
  of
• 2:15
  pride
• 2:15
  and
• 2:16
  probably
• 2:16
  could
• 2:17
  be
• 2:17
  moving
• 2:17
  a
• 2:17
  little
• 2:17
  faster
• 2:18
  if
• 2:18
  we
• 2:18
  didn't
• 2:18
  have
• 2:18
  some
• 2:19
  of
• 2:19
  those
• 2:19
  standards.
• 2:19
  But
• 2:19
  we
• 2:19
  think
• 2:20
  it's
• 2:20
  important.
• 2:20
  Yeah,
• 2:20
  it's
• 2:20
  important.
• 2:21
  So,
• 2:21
  Josh,
• 2:21
  my
• 2:22
  next
• 2:22
  question
• 2:22
  is,
• 2:22
  you
• 2:22
  know
• 2:23
  your
• 2:23
  marketplace
• 2:23
  went
• 2:23
  live
• 2:24
  right
• 2:24
  before
• 2:24
  the
• 2:24
  holidays.
• 2:25
  So
• 2:25
  my
• 2:25
  first
• 2:25
  question
• 2:25
  is,
• 2:26
  one,
• 2:26
  are
• 2:26
  you
• 2:26
  insane?
• 2:27
  And
• 2:28
  then
• 2:28
  two,
• 2:28
  how'd
• 2:29
  it
• 2:29
  go?
• 2:29
  What
• 2:29
  can
• 2:29
  you
• 2:30
  Tell
• 2:30
  us.
• 2:30
  Well,
• 2:31
  we
• 2:31
  launched
• 2:31
  it
• 2:31
  before
• 2:32
  the
• 2:32
  peak
• 2:32
  freeze,
• 2:33
  Chris.
• 2:33
  Okay.
• 2:34
  Remember,
• 2:34
  that's
• 2:34
  kind
• 2:35
  of.
• 2:35
  That
• 2:35
  matters.
• 2:36
  Yes.
• 2:36
  Right.
• 2:36
  In
• 2:37
  retail.
• 2:37
  No,
• 2:38
  we
• 2:38
  are
• 2:38
  not
• 2:38
  insane.
• 2:39
  We
• 2:39
  were
• 2:39
  ready
• 2:39
  for
• 2:39
  it,
• 2:40
  and
• 2:41
  we
• 2:41
  even
• 2:41
  got
• 2:42
  a
• 2:42
  few
• 2:42
  things
• 2:42
  in
• 2:42
  that
• 2:43
  we
• 2:43
  weren't
• 2:44
  even
• 2:44
  necessarily
• 2:45
  planning.
• 2:45
  And
• 2:45
  the
• 2:45
  team
• 2:46
  gets
• 2:46
  all
• 2:46
  the
• 2:46
  credit
• 2:46
  for
• 2:47
  this.
• 2:47
  We
• 2:47
  now
• 2:48
  take
• 2:48
  returns
• 2:48
  for
• 2:49
  all
• 2:49
  of
• 2:49
  our
• 2:49
  marketplace
• 2:50
  items
• 2:50
  in
• 2:50
  every
• 2:50
  store
• 2:52
  to
• 2:52
  make
• 2:52
  sure
• 2:53
  that
• 2:53
  that's
• 2:53
  easy
• 2:53
  and
• 2:53
  convenient
• 2:54
  for
• 2:54
  our
• 2:54
  customers.
• 2:55
  And
• 2:55
  that's
• 2:55
  working
• 2:55
  really
• 2:56
  well.
• 2:56
  Everything's
• 2:57
  going
• 2:57
  well.
• 2:58
  We're
• 2:59
  seeing
• 2:59
  results
• 3:00
  that
• 3:01
  are
• 3:01
  both
• 3:01
  quantitative
• 3:01
  beyond
• 3:02
  our
• 3:02
  expectations
• 3:03
  and
• 3:03
  really
• 3:03
  the
• 3:03
  qualitative
• 3:04
  results,
• 3:04
  too.
• 3:05
  99%
• 3:06
  of
• 3:06
  our
• 3:06
  brands
• 3:07
  seeing
• 3:07
  excuse
• 3:08
  actively
• 3:08
  selling
• 3:09
  and
• 3:09
  moving.
• 3:09
  Our
• 3:10
  returns
• 3:10
  rates
• 3:11
  are
• 3:11
  well
• 3:11
  below
• 3:11
  our
• 3:12
  expectations
• 3:12
  so
• 3:13
  far.
• 3:13
  So
• 3:13
  we're
• 3:13
  really
• 3:14
  excited.
• 3:14
  Sounds
• 3:14
  additive.
• 3:15
  It
• 3:15
  sounds
• 3:16
  like
• 3:16
  just
• 3:16
  the
• 3:16
  beginning.
• 3:17
  Josh,
• 3:17
  of.
• 3:17
  Of
• 3:18
  what
• 3:18
  will
• 3:18
  be
• 3:18
  a
• 3:18
  very
• 3:19
  fruitful
• 3:20
  initiative
• 3:21
  at
• 3:21
  ulta.
• 3:21
  What
• 3:22
  are
• 3:22
  you
• 3:22
  most
• 3:22
  excited
• 3:23
  about
• 3:23
  in
• 3:23
  the
• 3:23
  year
• 3:24
  ahead
• 3:24
  as
• 3:24
  you
• 3:24
  continue
• 3:25
  to
• 3:25
  see
• 3:25
  this
• 3:25
  grow?
• 3:26
  Yeah,
• 3:26
  we're
• 3:26
  going
• 3:26
  to
• 3:27
  continue
• 3:27
  to
• 3:27
  grow
• 3:27
  in
• 3:28
  the
• 3:28
  categories.
• 3:28
  We
• 3:28
  prioritize.
• 3:29
  We've
• 3:29
  got
• 3:30
  a
• 3:30
  few
• 3:30
  new
• 3:30
  categories
• 3:31
  coming
• 3:32
  up.
• 3:32
  And
• 3:32
  the
• 3:32
  other
• 3:33
  thing
• 3:33
  we're
• 3:33
  really
• 3:33
  excited
• 3:33
  about,
• 3:34
  which
• 3:34
  was
• 3:34
  always
• 3:34
  part
• 3:35
  of
• 3:35
  the
• 3:35
  agenda,
• 3:36
  was
• 3:36
  test
• 3:36
  and
• 3:36
  learn.
• 3:37
  And
• 3:37
  you'll
• 3:37
  start
• 3:37
  seeing
• 3:38
  some
• 3:38
  of
• 3:38
  our
• 3:38
  marketpl
• 3:39
  sellers
• 3:40
  graduate
• 3:40
  into
• 3:41
  our
• 3:41
  brick
• 3:41
  and
• 3:41
  mortar
• 3:42
  channel
• 3:42
  this
• 3:42
  year.
• 3:42
  So
• 3:43
  we're
• 3:43
  really
• 3:43
  excited
• 3:43
  about
• 3:43
  that,
• 3:44
  too.
• 3:44
  All
• 3:44
  right,
• 3:45
  well,
• 3:45
  thank
• 3:45
  you,
• 3:45
  Josh.
• 3:46
  Thanks
• 3:46
  for
• 3:46
  having
• 3:46
  me.
• 3:47
  Thanks,
• 3:47
  Josh.