Ulta Beauty (NASDAQ:ULTA) has announced the official launch of its digital innovation fund, which will be used to invest in emerging technology firms to shape both the in-store and online shopping experiences of the future.
According to the statement made by the retailer, the Prisma Ventures fund was founded to foster long-term, strategic relationships to hasten the innovation process.
Prisma Ventures forms partnerships with early-stage startups that are primarily Series Seed and Series A technology companies operating within innovation pillars that are described as Technology That Is Personalized And Driven By Data, Augmented Reality, Virtual Reality, And The Metaverse, Technology-Powered Custom Beauty Products And In-Store Services, And Social Commerce.
Ulta Beauty (ULTA) has had a better year than the S&P 500 Index and broad retail sector indexes in 2022; yet, the Seeking Alpha Quant Rating for the company is still set to Hold because of its low valuation level.
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