How Urban Outfitters’ Nuuly is outsmarting Rent the Runway
Publishing timestamp: 2023-11-09 08:12:21
Summary
Urban Outfitters' clothing rental subscription service, Nuuly, is experiencing significant growth and is set to reach profitability in 2023. The service has attracted a large number of subscribers and is projected to add $1 billion in value to URBN over the next few years. Nuuly is well-positioned in the rental market due to its parent company's backing and investment. In contrast, Rent Runway's share price has dropped significantly since going public. The rental market has potential for growth and could reach $2.1 billion by 2025.
Sentiment: POSITIVE
Keywords: retail industry, beauty and fashion, philadelphia, apparel retail, breaking news: business, stock markets, women's fashion, urban outfitters inc, business, apparel manufacturing, fashion, ceo, business news, rent the runway inc,
Source: https://www.cnbc.com/2023/11/09/how-urban-outfitters-beat-rent-the-runway-in-the-rental-game.html