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 stores 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
Photo Credit: WWD
About Urban Outfitters, Inc.
Urban Outfitters, Inc., offers lifestyle-oriented general merchandise and consumer products and services through a portfolio of global consumer brands comprised of 246 Urban Outfitters stores in the United States, Canada, and Europe and websites; 226 Anthropologie Group stores in the United States, Canada and Europe, catalogs and websites; 134 Free People stores in the United States and Canada, catalogs and websites and 10 Food and Beverage restaurants, as of April 30, 2018. Free People and Anthropologie Group wholesale sell their products through approximately 2,100 department and specialty stores worldwide, digital businesses and the Company’s Retail segment.