Kecia Steelman: GLP-1 Beauty Demand & Ulta Expansion

Kecia Steelman is having a moment. The newly minted CEO of Ulta Beauty is making waves in both retail and financial circles this week, thanks to a candid media tour in which she connected two of the biggest consumer trends of 2026: the GLP-1 weight loss drug revolution and the booming beauty industry. Her comments, made during appearances on Yahoo Finance and other outlets, reveal a CEO who isn't just reacting to trends — she's building an entire corporate strategy around them.

For investors, beauty shoppers, and anyone tracking the intersection of pharmaceuticals and consumer goods, Steelman's insights offer a rare window into how one of America's largest beauty retailers is positioning itself for the next decade.

Who Is Kecia Steelman? A New Era at Ulta Beauty

Kecia Steelman officially took the helm at Ulta Beauty in January 2025, becoming the company's top executive at a pivotal moment for the beauty retail sector. With a long tenure inside the company, Steelman was seen as an insider pick who understood Ulta's culture — a company where 91% of the workforce is female, a statistic she has cited with evident pride.

Her ascent to the CEO role came as Ulta faced increasing competition from Sephora's expansion inside Target stores, growing DTC beauty brands, and a post-pandemic reshuffling of consumer spending. But under her leadership, the company's shares have surged 57% over the past year, a performance that has quieted skeptics and put Steelman firmly in the conversation as one of retail's most closely watched executives.

Speaking on Yahoo Finance's Opening Bid Unfiltered podcast with host Brian Sozzi, Steelman outlined her vision with a confidence that investors have rewarded handsomely.

The GLP-1 Beauty Connection: A Trend Within a Trend

Perhaps the most headline-grabbing insight from Steelman's recent media appearances is her observation about GLP-1 weight loss drugs — medications like Ozempic, Wegovy, and Zepbound — and their unexpected ripple effects on the beauty industry.

According to Business Insider, Steelman says the GLP-1 craze has created new demand for certain hair and skincare products. This isn't a vague observation — it reflects a well-documented side effect profile of these drugs. Patients on GLP-1 medications frequently report:

• Hair thinning and increased hair shedding (often linked to rapid weight loss, known as telogen effluvium)
• Changes in skin elasticity and texture as body composition shifts
• Dryness in both skin and scalp due to metabolic changes
• Increased sensitivity requiring gentler, more targeted formulations

This has created a new category of consumer: the GLP-1 beauty shopper. These are individuals actively losing weight through medication who are simultaneously looking to address the cosmetic side effects of that process. They're searching for GLP-1 related haircare products to address hair thinning, and GLP-1 related skincare products to manage changes in skin texture and elasticity.

For Ulta, a retailer with deep category expertise across both haircare and skincare, this represents a meaningful revenue opportunity. Steelman's ability to identify and articulate this connection publicly signals that Ulta is already working to capture this demand — likely through targeted product curation, staff training, and marketing.

Ulta Beauty Unleashed: The International Expansion Strategy

Beyond the GLP-1 trend, Steelman has made clear that domestic dominance is just the beginning. She has launched what she calls the 'Ulta Beauty Unleashed' strategy — an ambitious growth plan centered on international expansion.

The target markets are telling: the United Kingdom, Mexico, and the Middle East. Each represents a different strategic rationale:

• United Kingdom: A mature, sophisticated beauty market currently dominated by players like Boots and Space NK, but with no single mass-prestige hybrid retailer holding the position Ulta occupies in the U.S.
• Mexico: A high-growth emerging market with a young population, strong cultural emphasis on beauty, and geographic proximity that simplifies supply chain logistics.
• Middle East: One of the world's fastest-growing luxury and prestige beauty markets, driven by high disposable incomes and a passionate beauty consumer base.

As MSN Money reports, Steelman's expansion vision also includes a focus on AI-driven personalization tools and store growth plans that reflect a broader omnichannel ambition. Ulta isn't just opening stores abroad — it's reimagining what a beauty retail destination looks like in a global context.

What This Means for Investors

For those tracking Ulta Beauty from a financial perspective, Steelman's strategic clarity is significant. The stock's 57% gain over the past year reflects renewed investor confidence, but the forward-looking narrative she's constructing could sustain that momentum.

Several factors make the investment case compelling:

• GLP-1 tailwinds: With tens of millions of Americans currently on or expected to start GLP-1 medications, the addressable market for associated beauty products is massive and growing. Ulta is positioning to be the retailer of choice for this customer.
• International optionality: U.S. beauty retail is competitive and relatively mature. International markets offer higher growth ceilings with less direct competition from Ulta-style formats.
• AI and personalization: Steelman's focus on technology suggests the company is investing in the infrastructure needed to serve customers across markets with tailored recommendations — a key competitive moat in modern retail.
• Brand loyalty engine: Ulta's loyalty program remains one of the most powerful in retail, with millions of active members who drive repeat purchases across categories.

That said, investors should note that international expansion carries execution risk. Localizing product assortments, navigating regulatory environments, and building brand awareness from scratch in new markets are all significant undertakings.

Beauty Trends Steelman Is Watching in 2026

In addition to GLP-1-driven demand, Steelman has flagged several other beauty macro-trends shaping Ulta's strategy this year:

• Skinification of haircare: Consumers are applying skincare-level rigor to their scalp and hair routines, seeking products with active ingredients traditionally found in serums and moisturizers. Products like scalp serum for hair growth and peptide hair treatments are seeing surging demand.
• Gen Z beauty shifts: Younger consumers are reshaping category priorities, with emphasis on ingredient transparency, sustainability, and brands that align with their values.
• Prestige-mass convergence: The line between luxury and mass-market beauty continues to blur, playing directly into Ulta's hybrid retail model that carries both drugstore staples and high-end brands under one roof.
• AI-powered beauty tools: From virtual try-on apps to AI skin analysis, technology is becoming embedded in the beauty shopping experience — an area Steelman has identified as a priority investment.

Frequently Asked Questions About Kecia Steelman and Ulta Beauty

When did Kecia Steelman become CEO of Ulta Beauty?

Kecia Steelman became CEO of Ulta Beauty in January 2025. She had previously held senior leadership roles within the company before being elevated to the top position.

What is Ulta Beauty's 'Unleashed' strategy?

The 'Ulta Beauty Unleashed' strategy is Steelman's growth framework focused on international expansion into new markets including the United Kingdom, Mexico, and the Middle East, alongside domestic store growth, AI investment, and category expansion.

How do GLP-1 drugs affect beauty product demand?

GLP-1 medications like Ozempic and Wegovy can cause side effects including hair thinning, skin texture changes, and increased dryness. This creates demand for specialized GLP-1 related haircare products and GLP-1 related skincare products targeted at people managing these changes during their weight loss journey.

How has Ulta Beauty's stock performed under Steelman's leadership?

Ulta Beauty's shares have risen 57% over the past year, reflecting investor confidence in Steelman's strategic direction and the company's ability to capitalize on emerging consumer trends.

What percentage of Ulta Beauty's workforce is female?

Ulta Beauty's workforce is 91% female, a figure CEO Kecia Steelman has highlighted as central to the company's culture and its deep understanding of its core customer base.

The Bottom Line

Kecia Steelman is emerging as one of retail's most strategically articulate CEOs. By connecting the dots between the GLP-1 medication boom and beauty product demand, she's demonstrated an ability to spot consumer behavioral shifts before they become consensus. Combined with an ambitious international expansion plan and a stock that has significantly outperformed, Ulta Beauty under Steelman's leadership looks increasingly like a company playing offense in a sector that rewards trend-savvy operators.

For beauty consumers, the takeaway is straightforward: if you're on a GLP-1 medication and experiencing hair or skin changes, Ulta's expanding product assortment is being curated with you in mind. For investors, Steelman's clarity of vision and early execution on the 'Ulta Beauty Unleashed' strategy makes this a company worth watching closely through the rest of 2026 and beyond.

Steelman's comments on Yahoo Finance's Opening Bid Unfiltered signal a CEO who understands that the most durable retail strategies sit at the intersection of culture, health, and consumer behavior — exactly where Ulta is positioning itself.