Urban Outfitters, Inc. (URBN) introduced Nuuly Thrift, a resale marketplace. The platform, launching this Fall, will offer consumers the opportunity to buy or sell women’s, men’s and kids’ apparel and accessories.
Customers selling items on Nuuly Thrift can either transfer earnings directly to their bank account or redeem them for Nuuly Cash, which is worth 10 percent more at Nuuly Thrift and the URBN family of brands.
The announcement follows news a few weeks ago that Swedish fashion giant H&M will launch its resale fashion platform, H&M Rewear, in Canada next month. Like Rewear, Nuuly Thrift will offer consumers the opportunity to resell products from any brand, not just Urban Outfitters products.
“URBN has been in the vintage renewal business since our founding in 1970,” said Richard A. Hayne, CEO and chairman, Urban Outfitters, Inc. “With the launch of Nuuly Thrift, we’re excited for URBN to capitalize on shifting customer behavior and gain market share in the rapidly expanding online resale market.”
“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 capitalize on a very large resale market opportunity,” said David Hayne, Chief Technology Officer, URBN, and Nuuly President. “Our goal at Nuuly is to build a creative marketplace community – built around a best-in-class technology platform where customers can be fashion-conscious, eco-conscious and financially-conscious, all in one place.”
Photo courtesy URBN, Nuuly Thrift
