Nuuly

After years of trial and error, rental platforms have found new ways to improve margins and acquire customers, such as focussing on niche categories. Profitability remains elusive, however.

For 50 years, Urban Outfitters has managed to ride the waves of mid-priced apparel retail without succumbing to the steady decline of its competitors. The key to the success of its brand stable — which also includes Anthropologie, Free People and Nuuly — is the company’s belief that the customer should define the product mix, not the merchant.

Want to get started with rental, but not sure which avenue to take? BoF breaks down the options and weighs the pros and cons of each.