Good morning! Two female CEOs negotiate a major merger, the Diddy trial continues, and Ulta gets in on Cowboy Carter.
- Most wanted. If you attend a stop of Beyoncé’s Cowboy Carter tour over the next several weeks, you'll see salon-inspired setups promoting the superstar's new-ish haircare brand Cécred. Beyoncé’s tour has harnessed the power of the stadium to promote everything from her brand to her mother Tina Knowles' recent memoir.
If you walk into an Ulta Beauty store that same weekend, you may see some similar activations. The beauty giant and Sephora competitor in April signed an exclusive deal to stock Cécred in 1,400 stores. As part of the Cowboy Carter tour, Ulta is hosting in-store events—and helping customers shop Beyoncé-inspired beauty looks.
Ulta's CFO Paula Oyibo dives into the partnership in a new Fortune interview with my colleague Sheryl Estrada. The relationship demonstrates "how cultural relevance and financial impact can go hand in hand," Oyibo says.
That's not surprising to hear when the partner in question is Beyoncé. Her Renaissance world tour grossed $579 million. Cowboy Carter takes Beyoncé to new artistic territory, with its country music and America-themed visuals. It also provides new opportunities for brand integrations; Levi Strauss, already part of the Western-inspired fashion trend, has enjoyed being name-checked in Beyoncé's song "Levii's Jeans." The brand just released a t-shirt with that cheeky misspelling.
Cécred was Ulta's largest haircare launch ever—and Cowboy Carter is set to be the tour of the summer. In a competitive prestige beauty retail market, it's smart for the $11 billion retailer to remind consumers that it's part of that.
Read Sheryl's full story here.
Emma Hinchliffe
emma.hinchliffe@fortune.com
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