American lifestyle retailer Urban Outfitters is the latest to venture into secondhand apparel market.
The retailer, on Tuesday (24 August), launched a resale marketplace called Nuuly Thrift, which, reportedly, is set to be launched sometime in the fall.
Much to the delight of shoppers, they can now buy or sell clothes and fashion accessories for women, men and children.
Notably, Nuuly Thrift will accept items for resale from any brand. On sale of an item, the shopper can transfer earnings to their bank account.
They can also redeem them for Nuuly Cash that’s worth 10 per cent more at Nuuly Thrift and all Urban Outfitters’ brands, including Anthropologie, Free People, Urban Outfitters and BHLDN, amongst others.
It is worth noting here that Nuuly Thrift is the sister concern of Nuuly Rent, which is a subscription rental service for women’s clothes.
According to the retailer, Nuuly Rent’s end-of-life inventory will, reportedly, be sold through its Nuuly Thrift brand. In turn, Nuuly Thrift could bring in new customers to the rental platform.
Importantly, Nuuly Cash will incentivise customers from both platforms to continue to spend within the secondhand space, thereby extending the life span of their clothes.
Urban Outfitters brand is known for women’s and men’s fashion apparels, footwear and beauty products, besides others. It operates in the US, the UK, the UAE, France, Germany and Italy, amongst others. It generated US $ 3.9 billion in 2019.
