Ulta Beauty, Inc.
ULTA
Consumer Discretionary
1
exclusion reason
1 theme
This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. But it is subject to change as our understanding of the facts evolves.
Ulta Beauty retails cosmetics, skincare, and haircare products, an industry where animal testing is a common regulatory requirement for product safety. The company's "Conscious Beauty" platform highlights brands that do not conduct animal testing and states the company maintains a global policy against animal testing. However, as a retailer selling thousands of products from third-party brands, Ulta's overall product portfolio is not certified as entirely cruelty-free. Cruelty Free Investors lists Ulta Beauty among companies that still test on animals, indicating that products sold in its stores or through its e-commerce platform may be subject to animal testing by brand manufacturers, particularly for products sold in markets like China where such testing is mandated by law.
Research Sources
1 organization
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Companies appear on our exclusion list based on our investment judgment — not because they've done anything illegal. This is a difference of values and opinion, not an accusation of wrongdoing. Exclusion does not constitute a recommendation against investing in any company, and absence from the list does not constitute a recommendation to invest.
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