Latest news with #AndyLightfoot
BBC News
17-07-2025
- BBC News
Dog detectives learn how to sniff out knives in Plymouth
An American university and dog trainers in Plymouth are researching how dogs could help police find knives used to commit dogs involved in the research project do not detect the knives themselves but a chemical compound created by the blades when they make contact with human smell of a knife in contact with human skin has been synthesised into a liquid form at Texas Tech University and the dog trainers use that to train the dogs, said trainer Brian Mence.A spokesperson for Devon and Cornwall Police said although they are not yet using dogs to detect knives, "we are aware of the training and capabilities of using search dogs to tackle knife crime". The process of getting the dogs to recognise the smell is similar to other working sniffer trainer Brian Mence explained it is a bit like handling coins or drinking out of a metal can. Although dogs are not currently being used by police forces in the UK for finding knives, lead trainer Andy Lightfoot believes there are several advantages to using dogs for this purpose."They're mobile, they're flexible, we can jump from one access point to the next, and they are non-invasive making the whole search process a lot quicker," he a metal-detecting arch, which will alert to any metal item, the dogs only react when there is a blade, he added. "It's building the association with the odour for a reward - in most cases that is giving them their favourite toy."Once they have that, they can search bags, coats, and then we can build up to searching people." A Home Office spokesperson said: "We remain steadfast in our mission to halve knife crime over a decade. "That's why we are bringing in new laws to stop knives from being sold illegally online, have banned zombie style knives and machetes, and are putting more neighbourhood police officers on the streets to make our communities safer while driving the development of innovative knife detection technologies."
Yahoo
11-07-2025
- Business
- Yahoo
Ulta Beauty Acquires Space NK as It Speeds Up International Expansion
Ulta Beauty's new chief executive officer Kecia Steelman continues to make significant moves, this time snapping up Space NK from investment firm Manzanita Capital. Terms of the deal were not disclosed apart from that the purchase was funded with cash on hand and capacity under Ulta's existing credit facility. More from WWD Laura Slatkin Steps Back From Day-to-day Operations at Nest New York The Best Prime Day Alternative Sales to Shop Now for Editor-Approved Style Deals The Celeb-Loved Hourglass Tubing Mascara Now Comes in a Surprisingly Versatile Brown Shade Press reports from last year suggested Manzanita was searching for a deal valued between 300 million pounds and 400 million pounds. Space NK, which has 83 stores in the U.K. and Ireland and turnover of 196.5 million pounds in 2024, will operate as a stand-alone subsidiary of Ulta Beauty and will continue to be led by its existing management team, including CEO Andy Lightfoot. 'Today's announcement marks an exciting step forward for Ulta Beauty's global expansion efforts, adding the U.K. market to our existing planned openings in Mexico and the Middle East later this year,' said Steelman. 'Space NK is a beloved brand with a strong operating model and customer loyalty, and we couldn't be more thrilled to welcome the brand into the Ulta Beauty family.' Space NK was founded in Covent Garden in 1993 by Nicky Kinnaird as a glossy destination for niche, international brands — many of them skin care — that were difficult to find in the U.K. It had been part of Manzanita Capital for 23 years. Reports that the firm was trying to sell Space NK emerged in April 2024. It previously tried to off-load it in 2018, before deciding to pull the retailer off the market. Bill Fisher, CEO and founder of Manzanita Capital, said: 'I have every confidence that Ulta Beauty and this terrific management team will take Space NK to new heights.' Lightfoot added that he was excited by the opportunity to join Ulta Beauty and 'benefit from its scale, brand relationships and resources.' 'This acquisition sets both companies on a path to further success and importantly, enables us to reach more beauty enthusiasts throughout the world at scale. As a collective force of talented, passionate teams, I'm confident we will take Space NK to new heights,' he continued. The U.S. wholesale division of Space NK, which entails roughly 600 points of distribution across Bloomingdale's, Nordstrom, Nordstrom Rack, Hudson's Bay and the company's shop-in-shop collaboration with Walmart and Beauty SpaceNK, was acquired by PCA Companies in June 2024. Since taking the reins as CEO of Ulta at the beginning of this year, Steelman has been executing its international expansion. Later this year Ulta will debut in Mexico through a joint venture with Axo, before arriving in the Middle East via a licensing agreement with Alshaya Group. In the Middle East, the first locations will be in Dubai and Kuwait City, with one store in each location to begin with, although the strategy is to expand quickly. It's the same story in Mexico. 'We're getting ready to launch in the back half of 2025 for Mexico, and it will probably be in the later half of the year for the Middle East. For Mexico, it's a joint venture with Axo. We're very excited about our partnership. The teams are working very well together. We believe we can get 10 stores open in a pretty short period of time,' Steelman said during an April interview with WWD. 'In regards to the Middle East, that's actually a licensed agreement that we're doing with Alshaya Group. We've talked to Alshaya Group for quite some time, and feel like they're a fantastic partner for us to bring our brand to life in the Middle East.' Neil Saunders, managing director of GlobalData, said: 'The Space NK brand is solid, so Ulta will not have much re-engineering to do. As such, it can focus its time and resources on expansion, which will now likely be more aggressive. There may also be some synergistic savings that accrue over time, although it will be important for Ulta to maintain the character and distinctiveness of Space NK.' Thursday's announcement that Ulta is acquiring Spake NK is yet another sign that beauty M&A is picking up after a lengthy slowdown. Other recent deals include L'Oréal snapping up Medik8 and Color Wow, E.l.f. Beauty buying Hailey Bieber's Rhode and Unilever's purchase of Dr. Squatch. Other beauty brands that have been in the market for some time will no doubt be hoping that this thawing means they will soon have some success. Best of WWD Which Celebrity Brands Are Next for a Major Deal? Lady Gaga, Beyonce and More Possible Contenders for the Next Corporate Prize The Best Makeup Looks in Golden Globes History A Look Back at Golden Globes Best Makeup on the Red Carpet, From Megan Fox to Sophia Loren [PHOTOS] Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Miami Herald
11-07-2025
- Business
- Miami Herald
Ulta Beauty makes surprise huge expansion
Walk into any Ulta on a Saturday, and you'll see the ritual in full swing. Teens hovering by the NYX aisle, moms eyeing anti-aging serums, someone getting their brows tinted in the corner. It's a mix of chaos and curation: part salon, part Sephora, part drugstore haul. And for years, it's been strictly a U.S. phenomenon. Sure, Ulta's loyalty program has millions of members. And yes, it dominates in suburbs and strip malls from coast to coast. But globally? Ulta's footprint has been basically nonexistent. That's what makes this next move such a shock. Related: This new AI tool could change how you shop for makeup Because instead of quietly testing an international store or easing into a new market, the company just made an aggressive move - one that skips the trial phase entirely. It's not a subtle shift, and it's not just about expansion. This is about planting a flag in a new The approach is bold, unexpected, and could mark a turning point for the brand's global future. Whatever the outcome, one thing is clear: Ulta is about to get its first passport stamp. Image source:Ulta Beauty announced it's acquiring Space NK, a British luxury beauty retailer with 83 stores across the UK and Ireland. Space NK will continue to operate under its own name, with CEO Andy Lightfoot and his team staying on to run the brand. The deal gives Ulta an immediate presence across the Atlantic without having to build anything from scratch. Ulta funded the acquisition using cash and its existing credit line, and said the move won't impact its other investments for the year. In other words, this isn't a gamble - it's a calculated acceleration. Related: E.l.f. drops $1 billion on Hailey Bieber's Rhode CEO Kecia Steelman called the move "strategically compelling" and emphasized Space NK's "differentiated beauty experience" and "tailored product mix." Ulta's been teasing international ambitions for a while now, including planned expansions into Mexico and the Middle East. But this marks the company's first actual entry into Europe: a market with plenty of beauty-savvy shoppers and a hunger for more retail innovation. For Space NK, Ulta offers scale. For Ulta, Space NK offers access. And together, they create a fast-tracked runway for international growth. Ulta's U.S. growth engine isn't sputtering, but it's definitely shifting. The company is still opening stores, but at a much slower pace than it did in the 2010s. It's also facing fresh pressure from Sephora, which has aggressively expanded via Kohl's shop-in-shops and continues to claw at market share. Meanwhile, the post-pandemic beauty boom has cooled. Ulta's Q1 sales were up just 4.5%, and both 2024 and 2025 have been labeled "transitional years" by the company itself. This acquisition gives Ulta a new growth lever - one that sidesteps its domestic saturation and puts the company in front of a new, untapped audience. And it isn't just a defensive play. As retail analyst Neil Saunders pointed out, Space NK operates in a more premium tier than Ulta and brings with it a "ready-made international business." That kind of built-in infrastructure is rare - and valuable. With the global beauty and personal care market projected to reach nearly $800 billion by 2030, Ulta's timing is on point. Whether Space NK becomes a long-term crown jewel or a stepping stone, one thing is clear: Ulta isn't waiting around. It's going doing it fast. Related: Lululemon's pricing change sends an ominous sign The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Fashion Network
10-07-2025
- Business
- Fashion Network
Ulta Beauty is new Space NK owner, purchase gives it instant scale in UK market
It's official. American giant Ulta Beauty is the new owner of British premium chain Space NK. The companies announced the news on Thursday saying Ulta acquired the business from long-term Space NK owner Manzanita Capital. Financial terms of the cash transaction weren't disclosed. But there was speculation that it would have been higher than £300 million ($408 million), reflecting the success enjoyed by Space NK in recent periods. The retailer sells a wide range of higher-end labels through its 83 UK and Ireland stores, and online, and will continue to do so as a standalone subsidiary of Ulta. It will also continue to be led by its existing management team under Space NK CEO Andy Lightfoot. For Ulta, it's not just an acquisition but an entry point into the strong UK beauty market. 'We are excited to enter the UK via the Space NK banner,' said Kecia Steelman, president and CEO of the American firm. 'International expansion is an integral part of our Ulta Beauty Unleashed plan, and the acquisition of Space NK offers a unique and strategically compelling opportunity to enter the growing UK market with a successful and growing brand. Along with our initiatives in Mexico and the Middle East, we are creating a broader platform for Ulta Beauty to unlock long-term, profitable growth.' Steelman also said Space NK's management team, 'with the backing of Manzanita Capital, has done an excellent job building a differentiated beauty experience that inspires consumers through tailored product mixes. We look forward to working with the team to support their continued growth and success'. Manzanita's CEO and founder Bill Fisher added that Space NK has been 'an important part' of its business for the past 23 years. 'The acquisition of Space NK from [founder] Nicky Kinnaird was a key influence in developing Manzanita's unique expertise in selecting and nurturing luxury and niche premium beauty and perfume brands. I have every confidence that Ulta Beauty and this terrific management team will take Space NK to new heights.' Meanwhile Lightfoot highlighted Ulta's powerful position in the US market and said the UK firm will 'benefit from its scale, brand relationships and resources to further fuel our mission to serve beauty obsessed consumers through expertise and innovation'.
Globe and Mail
10-07-2025
- Business
- Globe and Mail
Ulta Beauty Announces Acquisition of Leading British Beauty Retailer Space NK from Manzanita Capital
Ulta Beauty, Inc. (NASDAQ: ULTA) today announced that it has acquired Space NK Limited, a leading British beauty retailer, from Manzanita Capital, a beauty sector specialist investor with a long-term investment horizon. Financial terms of the transaction were not disclosed. Space NK is a curator of some of the world's most innovative beauty brands and a go-to destination for beauty discovery in its 83 stores in the UK and Ireland and online. Space NK will operate as a standalone subsidiary of Ulta Beauty and will continue to be led by its existing management team, including Space NK chief executive officer Andy Lightfoot. 'We are excited to enter the UK market via the Space NK banner,' said Kecia Steelman, president and chief executive officer of Ulta Beauty. 'International expansion is an integral part of our Ulta Beauty Unleashed plan, and the acquisition of Space NK offers a unique and strategically compelling opportunity to enter the growing UK market with a successful and growing brand. Along with our initiatives in Mexico and the Middle East, we are creating a broader platform for Ulta Beauty to unlock long-term, profitable growth.' 'Space NK's management team, with the backing of Manzanita Capital, has done an excellent job building a differentiated beauty experience that inspires consumers through tailored product mixes. We look forward to working with the Space NK team to support their continued growth and success,' continued Steelman. Bill Fisher, CEO and founder of Manzanita Capital, commented 'Space NK has been an important part of Manzanita Capital for the past 23 years. The acquisition of Space NK from Nicky Kinnaird was a key influence in developing Manzanita's unique expertise in selecting and nurturing luxury and niche premium beauty and perfume brands.' 'I have every confidence that Ulta Beauty and this terrific management team will take Space NK to new heights,' continued Fisher. 'We have long respected Ulta Beauty as the leading specialty beauty retailer in the U.S. We are energized and excited by the opportunity to join Ulta Beauty and benefit from its scale, brand relationships and resources to further fuel our mission to serve beauty obsessed consumers through expertise and innovation,' said Andy Lightfoot. The purchase of Space NK was funded with cash on hand and capacity under Ulta Beauty's existing credit facility. The acquisition is not expected to be material to Ulta Beauty's fiscal 2025 financial results and will not impact execution of its capital allocation priorities, including its share repurchase program. Goldman Sachs is serving as exclusive financial advisor to Ulta Beauty, and Latham & Watkins is serving as legal counsel. Raymond James is serving as exclusive financial advisor to Space NK, and Bryan Cave Leighton Paisner LLP is serving as legal counsel to Manzanita Capital and Space NK. About Ulta Beauty At Ulta Beauty (NASDAQ: ULTA), the possibilities are beautiful. Ulta Beauty is the largest specialty U.S. beauty retailer and the premier beauty destination for cosmetics, fragrance, skin care products, hair care products and salon services. In 1990, the company reinvented the beauty retail experience by offering a new way to shop for beauty – bringing together All Things Beauty. All in One Place®. Today, Ulta Beauty operates 1,451 retail stores across 50 states and distributes products through its website, which includes a collection of tips, tutorials, and social content. For more information, visit About Space NK Space NK first opened in 1993 as a lifestyle retailer in Covent Garden, London. Today, Space NK is a unique destination for beauty discovery, operating 83 locations across the UK and Ireland along with its online platform. For more information, visit About Manzanita Capital Manzanita Capital is a specialist investor focused on developing luxury and premium beauty companies into enduring global brands. Unconstrained by strict investment horizons, its long-term perspective is backed by patient family capital. Some current and prior investments include Diptyque, D S & Durga, and Byredo. Forward‑Looking Statements This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, which reflect Ulta Beauty's current views with respect to, among other things, future events and financial performance. These statements can be identified by the use of forward-looking words such as 'will', 'outlook,' 'believes,' 'expects,' 'plans,' 'estimates,' 'targets,' 'strategies' or other comparable words or the negative version of these words. The forward-looking statements in this press release include, among other things, statements regarding the anticipated benefits of the acquisition of Space NK and the future performance of the combined businesses. Any forward-looking statements contained in this press release are based upon Ulta Beauty's historical performance and on current plans, estimates and expectations. The inclusion of this forward-looking information should not be regarded as a representation by Ulta Beauty or any other person that the future plans, estimates, targets, strategies or expectations contemplated by it will be achieved. Such forward-looking statements are subject to various risks and uncertainties, which include, without limitation: the possibility that Ulta Beauty will not realize the anticipated benefits of the acquisition of Space NK for any reason, including due to challenges with integration or achieving anticipated acquisition synergies; macroeconomic conditions, including inflation and elevated interest rates, as well as prior labor, transportation, and shipping cost pressures, have had, and may continue to have, a negative impact on Ulta Beauty's business, financial condition, profitability, and cash flows (including future uncertain impacts, especially when combined with increased tariffs); changes in the overall level of consumer spending and volatility in the economy, including as a result of macroeconomic conditions, tariffs, and geopolitical events; Ulta Beauty's ability to sustain its growth plans and successfully implement its long-range strategic and financial plan; the ability to execute Ulta Beauty's operational excellence priorities, including continuous improvement and supply chain optimization; Ulta Beauty's ability to gauge beauty trends and react to changing consumer preferences in a timely manner; the possibility that Ulta Beauty may be unable to compete effectively in Ulta Beauty's highly competitive markets; the possibility of significant interruptions in the operations of Ulta Beauty's distribution centers, fast fulfillment center, and market fulfillment centers; the possibility that cybersecurity or information security breaches and other disruptions could compromise Ulta Beauty's information or result in the unauthorized disclosure of confidential information; the possibility of material disruptions to Ulta Beauty's information systems, including its website and mobile applications; the failure to maintain satisfactory compliance with applicable privacy and data protection laws and regulations; changes in the good relationships Ulta Beauty has with its brand partners, its ability to continue to obtain sufficient merchandise from its brand partners, and/or its ability to continue to offer permanent or temporary exclusive products of its brand partners; Ulta Beauty's ability to effectively manage its inventory and protect against inventory shrink; changes in the wholesale cost of Ulta Beauty's products and/or interruptions at its brand partners' or third-party vendors' operations; epidemics, pandemics or natural disasters, which could negatively impact sales; the possibility that new store openings and existing locations may be impacted by developer or co-tenant issues; Ulta Beauty's ability to attract and retain key executive personnel; the impact of climate change on Ulta Beauty's business operations and/or supply chain; Ulta Beauty's ability to successfully execute its common stock repurchase program or implement future common stock repurchase programs; a decline in operating results which could lead to asset impairment and store closure charges; and other risk factors detailed in the company's public filings with the Securities and Exchange Commission (the SEC), including risk factors contained in its Annual Report on Form 10‑K for the fiscal year ended February 1, 2025, as such may be amended or supplemented in its subsequently filed Quarterly Reports on Form 10-Q.
