Will Nuuly’s rental and resale model drive profitable growth for …

Aug 31, 2022 · Urban Outfitters is watching revenues at its Nuuly business take off, bringing the rental and resale business ever closer to operating in the black. The retail chain operator first launched its Nuuly Rent women’s apparel business in 2019 before last year’s debut of Nuuly …

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Nuuly's Take On Rental Drives Growth For Urban Outfitters - MSN

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Nuuly represents a relatively small slice of Urbn's total revenues, which grew 6.3 percent to $1.4 billion for the second quarter. But looked at another way, the rental platform accounted for 44 ...

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Urban Outfitters’ Nuuly Rental Business Turns A Profit In Q3

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Nov 27, 2023 · Sales at Urban Outfitters’ rental and resale business Nuuly helped push the apparel conglomerate’s Q3 sales up 9% year over year to $1.28 billion. Nuuly’s own sales …

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How Nuuly Tweaked Its Business Model To Become Profitable

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Mar 22, 2024 · Rent the Runway had yet to go public, but raised $125 million that same year, giving it a private valuation of over $1 billion. Nuuly worked by charging an $88 monthly fee …

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Nuuly Turns First Profit Via Diverse Assortment And Logistical ...

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The company’s fiscal third quarter, which ended on Oct. 31, saw it report an operating profit of $300,000, an improvement compared to the year-ago period when it had an operating loss of …

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Behind URBN’s $1.27B Q2 Sales Is Nuuly’s 94% Growth, 16

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Aug 24, 2023 · Nuuly, an outfit rental service, saw net revenues rise 93.8% to $55.8 million and active subscribers rise 85%. Menus & Venues net sales rose 15.4% to $8.7 million.

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Urban Outfitters Takes On Rent The Runway With Nuuly (URBN)

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Mar 23, 2023 · The company sees rental as part of the answer to what will keep driving sales. (Annual revenue is up about 20% since the onset of the pandemic in 2020.) Consumers, …

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URBN Achieves The Retail-resale-rental Trifecta With Launch Of

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Oct 12, 2021 · By 2025, global rental revenue is expected to be more than $2 billion, while resale will hit $77 billion. According to data from Nuuly, Nuuly’s approximately 30,000 subscribers …

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Urban Outfitters Q2: Nuuly's Growth Is Exciting (Rating Upgrade)

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Aug 23, 2024 · The brand seems to be losing ground against the market – Urban Outfitters sales declined -8.6% year-on-year into $316.7 million, with the larger Anthropologie brand showing …

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The Retailer That Finally Got Rental Right | BoF - The Business Of …

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Nov 1, 2023 · The Retailer That Finally Got Rental Right. Urban Outfitters has spent over $100 million building Nuuly, a competitor to Rent the Runway that stocks more casual clothing. Four …

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Rent Clothing? This Business's 68% Customer Growth Says Yes.

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Dec 9, 2023 · Overall, the company's retail business saw 7% sales growth. While not a bad quarter by any stretch of the imagination, the weakness at Urban Outfitters highlights the …

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After A Successful 2019 Rental Service Launch, Urban ... - Forbes

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Aug 24, 2021 · Courtesy of Nuuly. After launching Nuuly, a subscription clothing rental service in 2019, Urban Outfitters Inc. URBN +1.1% is launching Nuuly Thrift, a resale platform for buying …

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FAQs about Will Nuuly’s rental and resale model drive profitable growth for … Coupon?

Is nuuly a good rental company?

The promise of rental has been in the air for some time, but profits and real scale have been elusive. Nuuly is getting there. In the second quarter, Nuuly's operating income tallied $5.3 million - for a margin of 5.9 percent - and the business is on track to be profitable for the full year. ...

Is nuuly a profitable company?

Nuuly is getting there. In the second quarter, Nuuly's operating income tallied $5.3 million - for a margin of 5.9 percent - and the business is on track to be profitable for the full year. Sales grew 62.6 percent to $90.7 million for the quarter while the number of active subscribers expanded by more than 25,000 to top 250,000. ...

Is nuuly better than rent the runway?

Stern is now a loyal subscriber to Nuuly, a rental service launched by Urban Outfitters Inc. in 2019, which she says better serves her post-pandemic need for more casual clothing. She’s not the only rental customer to make the switch. Though Rent the Runway had a nearly 10-year head start, Nuuly has vaulted past its competitor by some measures. ...

Is nuuly a resale marketplace?

The move is a big bet on the future of circular fashion and alternate consumption models, though it comes with heavy associated costs. Nuuly Thrift is a peer-to-peer resale marketplace, as opposed to a consignment service like The RealReal. Nuuly customers can now sell clothes — any clothes, not just from URBN brands — directly to other users. ...

Is nuuly a big bet on renting?

Now the retailer, which owns the Urban Outfitters, Anthropologie and Free People chains, is quickly scaling what was already one of the apparel industry’s biggest bets on renting. Nuuly has 150,000 subscribers—more than Rent the Runway had at the end of October. Its revenue surged 170% last year to $130 million. ...

How does nuuly affect URBN's growth?

Nuuly represents a relatively small slice of Urbn's total revenues, which grew 6.3 percent to $1.4 billion for the second quarter. But looked at another way, the rental platform accounted for 44 cents of every dollar of Urbn's growth and more than offset the sales declines logged at the Urban Outfitters unit. ...