Urban Outfitters to Start Renting Its Clothes to Customers

Not only can you buy clothes at Urban Outfitters, but you'll soon be able to rent off the rack as well. The Wall Street Journal reports that, for $88 a month, shoppers will be allowed to borrow six items per month from Urban Outfitters, along with Free People and Anthropologie. “We certainly don’t think the customers are just going to stop purchasing,” says David Hayne, who will head up the new rental venture, called Nuuly. “Purchases make sense for things you know you’re going to use often; rental makes sense for things you would like to try.” Urban Outfitters' move into the rental space comes amid weaker-than-expected 2019 sales and a stock price that's dropped 19 percent since the first of the year.

Wall Street

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