Urban Outfitters to launch Nuuly Thrift resale platform
Urban Outfitters is to launch a resale platform called Nuuly Thrift this autumn to enable customers to buy or sell women’s, men’s and children’s fashion and accessories.
Nuuly Thrift will be a sister platform to Nuuly Rent, the subscription rental service for women’s apparel.
Customers will have the opportunity to resell products from any brand and not just those from the URBN portfolio which includes Urban Outfitters, Anthropologie, Free People, BHLDN and Terrain.
When customers sell an item on the platform, they will be able to transfer their earnings to their bank account or redeem them for Nuuly Cash, which will be worth 10% more at Nuuly Thrift and the URBN family of brands.
Richard Hayne, chief executive and chairman of Urban Outfitters Inc., said: “URBN has been in the vintage renewal business since our founding in 1970. With the launch of Nuuly Thrift, we’re excited for URBN to capitalise on shifting customer behaviour and gain market share in the rapidly expanding online resale market.”
Nuuly’s end-of-life rental inventory will also be sold through the platform.
URBN said its customers are already very active in the resale market, with three quarters having made second hand purchases and nearly half having sold second hand items in the past year.
David Hayne, URBN chief technology officer and Nuuly president, said: “With URBN’s millions of existing customers, our merchandising and creative expertise, our deep technical capability, and the potential for Nuuly Cash to drive incremental purchases at our family of brands, we believe the stage is set to capitalise on a very large resale market opportunity.”