Walmart Teams Up with SpaceNK for Luxury Beauty Launch
Walmart will bring partnering with Space NK to bring more luxury lines of skincare, makeup, and and hair care. The new partnership is labeled “Beauty Space” and will be available online at walmart.com as of March and launching at 250 stores this summer with over 15 luxury brands that will be available. Some of those brands will include By Terry, Foreo, Slip, and more with prices ranging from $50 to $200.0
As you know Target teamed up with Ulta to do the same as well as Sephora with Kohl’s. And the thought that the beauty industry is suffering due to the pandemic is probably completely wrong because Coty says that prestige sales were up 12% as of the second quarter in 2022 (I blame Tiktok).
I know what you’re thinking! Prestige Beauty at Walmart? But it’s actually not as weird as you may think considering the relationship that Walmart has developed with some luxury brands of clothing and accessories that they begun carrying on their website a while back ago.
Yes, the idea of Space NK and Walmart sounds like an odd relationship but luxury beauty brands are slowly realizing that they can’t remain exclusive to a certain type of clientele anymore and they need to cast their nets out further and become more readily available to the masses.
I do wonder if this collaboration will work out for Walmart or if it’ll be a bust.
What do you think of prestige beauty at Walmart?
Yay or nay?