// Urban Outfitters announces the launch of its resale platform Nuuly Thrift this autumn
// Customers will have the opportunity to resell products from any brand and not just those from the URBN portfolio
Urban Outfitters set to step up its presence in the second-hand fashion market with plans to launch its own resale platform Nuuly Thrift.
The platform which is set to go live this autumn will enable customers to buy or sell women’s, men’s and children’s fashion and accessories.
Nuuly Thrift will be a sister platform to Nuuly Rent, the subscription rental service for women’s apparel launched by Urban Outfitters in 2019.
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The retailer said the two platforms will go hand-in-hand, with Nuuly’s end-of-life rental inventory sold through Nuuly Thrift, while each platform will introduce new customers to the other.
Customers will have the opportunity to resell products from any brand and not just those from the URBN portfolio which includes Urban Outfitters, Anthropologie, Free People, BHLDN and Terrain.
When customers sell an item on the platform, they will be able to transfer their earnings to their bank account or redeem them for Nuuly Cash, which will be worth 10 per cent more at Nuuly Thrift and the URBN family of brands.
Urban Outfitters chief executive and chairman Richard A. Hayne said: “URBN has been in the vintage renewal business since our founding in 1970. With the launch of Nuuly Thrift, we’re excited for URBN to capitalise on shifting customer behaviour and gain market share in the rapidly expanding online resale market.”
Nuuly’s end-of-life rental inventory will also be sold through the platform.
URBN said its customers are already very active in the resale market, with three quarters having made second hand purchases and nearly half having sold second hand items in the past year.
Nuuly president and URBN chief technology officer David Hayne said: “With URBN’s millions of existing customers, our merchandising and creative expertise, our deep technical capability, and the potential for Nuuly Cash to drive incremental purchases at our family of brands, we believe the stage is set to capitalise on a very large resale market opportunity.”
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