The following video is part of our "Motley Fool Conversations" series, in which Erin Corr and analyst Austin Smith discuss topics across the investing world.

In today's edition, Austin and Erin discuss three reasons to love Ulta Salon. Don't worry about the high multiples here; this company has the growth to back it up. Its customers are intensely loyal, and having the salon division allows the company to push already familiar customers to their website for even more sales.

Austin Smith owns shares of Berkshire Hathaway (BRK-B). Erin Corr owns shares of Berkshire Hathaway (BRK-B). The Motley Fool owns shares of Berkshire Hathaway. Motley Fool newsletter services recommend Ulta Salon, Cosmetics & Fragrance and Berkshire Hathaway. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.