default-output-block.skip-main
BoF Logo

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.

Urban Outfitters Launches Peer-to-Peer Resale Marketplace

Nuuly Thrift app. Courtesy.
Nuuly Thrift app. Courtesy.

Dubbed Nuuly Thrift, the resale marketplace will be a “sister platform” to Urban Outfitters’ subscription rental programme, Nuuly Rent, which launched in 2019. Nuuly Thrift will allow customers to sell and buy items from any brand, not just its in-house products, the company announced on Tuesday. Nuuly rental’s “end-of-life” garments will also be sold on the resale platform. The Nuuly Thrift app will be available to download this fall.

“[Urban] has been in the vintage renewal business since our founding in 1970,” Richard Hayne, chief executive and chairman, said in a statement. “With the launch of Nuuly Thrift,” he added, the company will “capitalise on shifting customer behaviour and gain market share in the rapidly expanding online resale market.”

The US resale market was worth about $27 billion in 2020, according to a recent BoF Insights report, and could reach as high as $67 billion by 2025. A May global survey of about 6,000 respondents found that 58 percent of consumers have purchased secondhand apparel.

As resale gains mainstream popularity, retailers from luxury to mass are eager to enter the space. Just in the past month, H&M announced its own resale initiative in Canada and Madewell said that it would extend its preowned denim partnership with ThredUp. Kering invested in luxury resale website Vestiaire Collective in March. Meanwhile, mass resale’s biggest contenders, Poshmark and ThredUp, both went public this year and have posted generous growth in their quarterly earnings.

Whether a retailer like Urban Outfitters, which also owns Anthropologie and Free People, can compete with the resale market’s giants remains to be seen. But for now, experts say there is plenty of white space in the industry.

Learn more:

Why Big Retailers Are Finally Taking Resale Seriously

H&M is the latest to enter the space, with a marketplace set to launch on Sept. 7 in Canada. The fast fashion behemoth sees an opportunity to bring in new customers and burnish its sustainability credentials. But it has plenty of competition.

© 2024 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions

More from Retail
Chronicle the ‘Retail Apocalypse’ and emerging retail models, including DTC brands.

In a partnership with resale service provider Reflaunt, the global logistics giant now offers a fulfilment, shipping and platforming solution for brand clients interested in entering the secondhand space.




While GU, with slightly lower prices than Uniqlo and clothes aimed at younger clientele, has a solid presence in Japan, it’s less known in other major markets. Building its presence abroad is part of Fast Retailing founder Tadashi Yanai’s push to “become a true global player,” by first doubling annual profit to ¥5 trillion within a few years.


view more

Subscribe to the BoF Daily Digest

The essential daily round-up of fashion news, analysis, and breaking news alerts.

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.
CONNECT WITH US ON
BoF Professional Summit - New Frontiers: AI, Digital Culture and Virtual Worlds - March 22, 2024
© 2024 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions, Privacy Policy, Cookie Policy and Accessibility Statement.
BoF Professional Summit - New Frontiers: AI, Digital Culture and Virtual Worlds - March 22, 2024