I have a part-time hobby of stalking the fashion business, and I wanted to share some news that might interest you all! A handful of popular retail companies like JC Penney, Kohls, and Nordstrom announced their earnings this week and missed expectations. Urban Outfitters, however, beat expectations! Just so you know, they are also the parent company for Anthropologie and Free People. That was really interesting to see, especially when everything else seems to be failing.
I’m writing this to let my subscription-obsessed readers know that Urban also announced a rental subscription service that will be launched this summer! The company owner’s son will run the business, and it is called Nuuly. You can sign up for the waitlist here. The structure will be $88/month for six items that you have the option to purchase. That is in comparison to Rent the Runway, which charges $89/month for four items (they also have their unlimited plan for $159/month). Of course Urban’s model is based on RTR, but their angle is that their service is more down to earth and less “I need to rent designer dresses for a wedding this month.”
Nope, I will not be signing up because I’m on a strict budget right now, but I wanted to let my readers know.
Thanks for reading!