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.