Urban Outfitters is setting up a new business to rent clothes. The new service will cost $88 a month.
Renting has become a major fashion trend as younger consumers who crave newness look for more sustainable ways to shop.
According to The Wall Street Journal, the trendy retail chain is setting up a new business, known as Nuuly, that will run its rental offering. And it seems this idea has been in the making for a while, as aCustomers will be able to rent out items of clothing from across the brands that Urban Outfitters owns, including Anthropologie and Free People, as well as from third-party labels such as Nike and Reebok that are stocked at its stores.
The returns process functions in a similar way to other rental services, such as Rent the Runway. The cost of postage is included in the membership fee and clothing is washed and dry-cleaned before being sent out again, according to the Journal. Nuuly will be run by David Hayne, who is currently listed as chief digital officer at Urban Outfitters on Linkedin. Hayne is the son of the company's cofounder and CEO.Last year, Business of Fashion called out the rental market as being one of the next big trends in fashion.
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