Urban Outfitters has joined the sharing economy with its own clothing rental service called Nuuly. The brand started as a school project in 1970 and was founded by Dick Hayne, Scott Belair, and Judy Wicks. Initially, Urban Outfitters was a second hand clothing and furniture store that primarily served students from the University of Pennsylvania. The brand has since grown internationally and now boasts 245 stores across the US, Canada, and Europe.
Nuuly will charge subscribers $88 per month and allow them to rent six items. The service is expected to launch this summer and will include brands like Levis, Reebok, Addidas, and more. Chief Digital Officer, David Hayne, said: "Purchases make sense for things you know you're going to use often; rental makes sense for things you would like to try." This service is curated for individuals wanting to expand their wardrobe without commitment
Rental services are increasing in popularity with services like Zip Car, Airbnb, Kickstarter, and Uber capitalizing on the sharing economy. It is no wonder we are seeing an increase in the clothing subscription model with the launch of Nuuly.
Funky Clothing Rental Services
Urban Outfitters' Nuuly Allows Consumers to Rent Clothes
Trend Themes
1. Clothing Rental Services - The rise of clothing rental services presents an opportunity for businesses to tap into the sharing economy and offer consumers a more sustainable and affordable way to access fashion.
2. Sharing Economy - The growing popularity of sharing economy platforms like Nuuly, Airbnb, and Uber signals a shift in consumer behavior and opens doors for businesses to innovate and disrupt traditional ownership models.
3. Subscription-based Fashion - The subscription-based fashion model, exemplified by Nuuly, allows consumers to experiment with different styles and brands, creating opportunities for businesses to offer personalized and ever-changing fashion experiences.
Industry Implications
1. Fashion Retail - The rise of clothing rental services in the fashion retail industry presents an opportunity for companies to explore new business models and tap into the growing demand for sustainable and flexible fashion options.
2. Technology - The rise of the sharing economy and subscription-based models in the fashion industry requires advancements in technology and digital platforms to support seamless and user-friendly rental experiences.
3. Logistics and Supply Chain - The success of clothing rental services relies on efficient logistics and supply chain management, creating opportunities for businesses to optimize operations and offer timely and convenient rental services to consumers.