
Since Mary Dillon took over as CEO of Ulta Beauty in 2013, she has reimagined the beauty chain, transforming its image as a mainstay in downtrodden suburban strip malls. Dillon revised the store’s coupon policy to nix its reputation as a bargain bin retailer, announced plans for a new flagship in Manhattan—one of hundreds of new stores to be opened—and stocked Ulta’s app with high-tech offerings. She’s also overhauled the in-store experience by offering salon services. The result: Ulta’s stock has been on a tear, up 38% in 2016.