How Urban Outfitters Is Winning The Clothing Rental Game скачать в хорошем качестве

How Urban Outfitters Is Winning The Clothing Rental Game

Fashion corporation Urban Outfitters Inc., or URBN, joined the clothing rental market in 2019 with its subscription service, Nuuly. So far, Nuuly has already seen substantial growth, doubling its revenue from July 2022 to July 2023 and counting an 85% increase in subscribers in the same period. It’s not a first mover in the rental market, but it’s growing faster than competitor Rent the Runway, which launched about a decade prior to Nuuly and has fewer subscribers. Rent the Runway's stock has dropped about 96% since going public at the height of the pandemic in 2021. Some experts have called Nuuly a case study proving how well a service can do when a parent company goes “all in” on rental. But rental is not only good for business, its also good for the environment. URBN has spent over $100 million so far and is opening a new $60 million facility in the first quarter of 2024 to keep up with demand. Chapters: 00:00 — Introduction 02:06 — The sharing economy 06:01 — Nuuly’s potential 10:58 — Risks Produced, shot, and edited by: Natalie Rice Narration by: Erin Black Animation: Christina Locopo Super Managing Producer: Tala Hadavi Additional Footage: Getty Images, AP Images, NBC News » Subscribe to CNBC: https://cnb.cx/SubscribeCNBC » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more. Connect with CNBC News Online Get the latest news: https://www.cnbc.com/ Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC Follow CNBC News on Facebook:  Follow CNBC News on Twitter: https://cnb.cx/FollowCNBC Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC #CNBC How Urban Outfitters Is Winning The Clothing Rental Game