Yes, you can buy a DISC and use the application offline, but this option is possible only for the German version. I don't see the button to appear to order the software as a CD for the English version. You can only use the downloadable version of Beauty Studio.
You can buy the application using the following link: http://www.virtual-hairstudio.com/en/private/bs/
To enable CD buying option, switch the language of the website to German. Note that this version costs a little more due to physical shipping costs.