Kylie Jenner May Be the Ticket to Long-Lasting Success for Ulta and Coty Stock
The bad news for cosmetics companies and retailers is that Generation Z -- usually the top buyer of cosmetics -- is spending less on makeup. The good news is these buyers follow the trends set by social media stars and influencers, and that element is what could help retailers like Ulta (NASDAQ: ULTA) and beauty companies like Coty (NYSE: COTY) develop a winning strategy.
Both companies have turned to social media celebrity Kylie Jenner, and as Ulta's recent earnings report showed, the effort is starting to pay off. Ulta, which features Jenner's Kylie Cosmetics line, surpassed third-quarter earnings estimates and said the brand is driving excitement and bringing new customers into the store.
Image source: Getty Images.
Source Fool.com
