by Apparel Resources News-Desk
23-May-2019 | 1 min read
US-based fashion retailer Urban Outfitters will be unveiling a new service, called Nuuly, this summer thereby announcing its arrival into apparel rental market.
Nuuly is a subscription-based rental service that offers women subscribers an opportunity to rent 6 apparel items every month at a charge of US $ 88.
The shoppers will be able to rent apparels from Urban Outfitters’ family of brands that include the likes of Free People and Anthropologie. Besides, the shoppers can rent clothes from renowned brands like Levis and Reebok that are sold in Urban Outfitters outlets.
The company said that Nuuly will initially stock more than 1,000 styles, but gradually it will add 100 styles every week. The retailer also said that by the end of 2019, it intends to increase the current stock by 3 times.
The company said in its press release that the shoppers who start loving the rental clothes would eventually end up buying them and so Nuuly will actually help the company generate more revenue.
David Hayne, Chief Digital Officer, Urban Outfitters, said that this service is expected to generate a revenue of US $ 50 million in its very first year.
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