Millennial fast fashion giant Urban Outfitters is dipping a (likely jewelry-clad) toe into the subscription service ring.
This summer, UO will launch Nuuly, an online rental service supplying womenswear on loan for a monthly fee, in the vein of Rent the Runway. According to Yahoo, the program will allow subscribers to borrow six items per month for $88, with the option to purchase any of the rented garments.
The BBC reports that the service expands to other brands under the company's umbrella, including Anthropologie and Free People, as well as labels sold at the retailer such as Levi’s, Anna Sui, and Fila.
The decision to expand into the rental space is based on the consumer’s preference for “platforms that provide novelty, variety and breadth, while also supporting sustainability."
UO’s chief digital officer, David Hayne, told the Wall Street Journal he predicts Nuuly will net 50,000 subscribers and $50 million in its first year.
RELATED: Urban Outfitters Is Launching Its Own Beauty Brand — and It’s Super Affordable
So does this mean there’s nothing to be said for the draw of the IRL shopping experience? Is a perusal of UO’s kitschy photo frames no longer worthy of its own shopping trip? Maybe, but on the plus side, if those numbers are correct, those who still love to buy their clothes the old-fashioned way will likely benefit from a less crowded dressing room …
Source: Read Full Article