URBN’s Nuuly Thrift Aims to Capture Millions of Resellers This Fall – WWD

After its rental run, Urban Outfitters Inc. is increasing with Nuuly Thrift, a resale market.

Saying the transfer Tuesday, the retailer mentioned pre-owned males’s, ladies’s and children’ clothes and accessories from any model will likely be out there for buy beginning on its iOS app this fall. Launching first as an iOS app, Nuuly Thrift will permit prospects to resell merchandise from any model, not simply URBN’s portfolio of manufacturers.

Nuuly Thrift will work hand-in-hand with sister platform Nuuly Rent, URBN’s subscription rental service for ladies’s attire that fees $88 a month for six rental objects. In actual fact, end-of-life leases will assist inventory provide on Nuuly Thrift. For added eco props, Nuuly may even companion with cost software Stripe Local weather to donate 1 % of Nuuly Thrift income to carbon removing initiatives.

Each platforms help Nuuly’s model mission to be, based on the corporate, a “curated vacation spot” for trend that’s neither detrimental to pockets spend nor the planet.

Any model could be resold on Nuuly Thrift and is merchandised on the platform (similar to managed marketplaces) with the assistance of the Nuuly inventive group. Eager to funnel prospects towards full-price purchases at URBN manufacturers — which incorporates Anthropologie, Free Individuals, Urban Outfitters, Bhldn and Terrain — Nuuly Thrift will permit prospects to money out with Nuuly Money (value 10 % extra at Nuuly Thrift and URBN manufacturers) or put earnings immediately into their checking account.

“URBN has been within the classic renewal enterprise since our founding in 1970,” mentioned Richard A. Hayne, chief government officer and chairman of City Outfitters Inc. “With the launch of Nuuly Thrift, we’re excited for URBN to capitalize on shifting buyer conduct and acquire market share within the quickly increasing on-line resale market.”

Based on the corporate, three-quarters of URBN consumers have made secondhand purchases up to now 12 months, with practically half having resold objects. And URBN manufacturers constantly carry out strongly on secondhand marketplaces. Merchandise from Anthropologie and Free Individuals trended in Poshmark’s winter 2021 pattern report, whereas City Outfitters made the checklist of most resold Depop manufacturers, based on a June report from U.Ok.-based utilities agency SaveOnEnergy.

Touting Nuuly’s expertise and the truth that the platform, logistics and software program have been constructed from the bottom up within the firm’s Philadelphia headquarters, URBN chief expertise officer and Nuuly president David Hayne mentioned “seamless expertise is a essential enabler for achievement.”

“Coupling our trend experience with a rising competency in knowledge science will permit us to create a scalable open market that feels curated,” Hayne mentioned. “Nuuly Lease has seen an thrilling rebound since COVID-19, surpassing our pre-pandemic excessive with subscribers above 30,000 and rising every day.”

The subscriber depend is shy of the corporate’s preliminary aim of fifty,000, with rental broadly seeing a dropoff because the pandemic lockdowns ensued.

Nuuly, thrift, resale, Urban Outfitters

A take a look at URBN’s Nuuly Thrift secondhand market coming in fall.
Courtesy

https://wwd.com/sustainability/enterprise/urban-outfitters-nuuly-resale-thrift-rental-fall-1234903129/ | URBN’s Nuuly Thrift Goals to Seize Hundreds of thousands of Resellers This Fall – WWD

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