URBAN OUTFITTERS is a multinational lifestyle retailer dedicated to inspiring customers through a unique combination of product, creativity and cultural understanding. Founded in 1970 in a small space across the street from the University of Pennsylvania, Urban Outfitters offers experiential retail environments and a well-curated mix of women’s and men’s, apparel, accessories and home product assortments.
Urban operates over 200 stores in the United States, Sweden, United Kingdom, Spain, Denmark, France, Germany, Ireland, Belgium, Canada, Italy, the Netherlands, Poland and the United Arab Emirates.
Publicly traded under: URBN with a market cap of $3.5B
Urban Outfitters has paved a strong pathway for growth in 2021, taking advantage of today’s favorable lease terms. The retailer is planning for 34 new store openings. Additionally, their expansion plans include a prediction of $250 million in brand growth by 2024.
URBN’s brand family includes Anthropology, Free People, Nuuly, Terrain, and BHLDN. Their core customer segment includes Gen Z’ers – a generation that prefers brick-and-mortar experiences. The company describes its devotees as “young adults, who are culturally sophisticated, self-expressive and concerned with acceptance by their peer group.” URBN strives to consistently meet the needs of this ever-changing demographic.
URBN’s store imagery has been used to target shoppers and drive them into their locations. There’s a transparency and dramatic layering of product that is visually appealing to the eye, creating a setting of invitation and textural fashion experiences.
The retailer strives to be on the forefront of experimentation trends, being mindful of who their customers are. URBN’s expansion plans clearly demonstrate their maturation as they adapt to today’s evolving retail landscape. They understand the changing nature of the brick-and-mortar model and its designation as a gathering place for communities. URBN’s growth initiatives and experiential elements work hand-in-hand to create an ultimate integrated touchpoint for their brand’s ecosystem.
SOURCE: ‘URBAN OUTFITTERS GROWING’ - FORBES