Urban Outfitters is next in line to launch its own circular fashion platform, Nuuly Thrift, as it aims to get in on the popular clothing resale market.
Nuuly Thrift will launch in the winter and will give users the chance to purchase second-hand men’s, women’s and children’s clothes as well as accessories.
The difference between Nuuly Thrift and market leaders such as Depop is that users are able to exchange their cash made from selling items on the platform into “Nuuly Cash” which is worth 10 per cent more on the platform and the rest of the Urban family of brands.
Nuuly Thrift will allow customers to sell pre-owned products from any brand on the platform and not just products purchased from Urban Outfitters.
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The platform joins Nuuly Rent, which Urban Outfitters launched in 2019 and is a subscription rental service for women’s clothing.
The company hopes that the two Nuuly platforms will introduce new customers to each other.
“Urbn has been in the vintage renewal business since our founding in 1970,” said Urban Outfitters chief executive and chairman Richard A. Hayne in a statement.
“With the launch of Nuuly Thrift, we’re excited for Urbn to capitalize on shifting customer behaviour and gain market share in the rapidly expanding online resale market.”
According to data from Urban Outfitters, the flagship of the brand, three-quarters have made second-hand purchases in the past year with nearly have of these selling second-hand items themselves.
The news comes just as fashion giant H&M announced last week they were also launching its own resale platform, H&M Rewear, in Canada next month.