Urban Outfitters is a US-based lifestyle retailer that sells an eclectic range of trendy fashion and hip homewares aimed at urban 20-somethings. It also trades through the Anthropologie fascia, a more upmarket brand that targets women who may have outgrown Urban Outfitters, and the smaller, bohemian-inspired Free People brand. The retailer has also moved into sustainable fashion under the Nuuly label in its domestic market.
The retailer trades around 700 stores in North America and Europe, but its domestic market still accounts for the majority of its outlets.
In the UK, it trades through around 30 Urban Outfitters and a growing network of approaching 20 Anthropologie stores. The Free People brand has also been expanding in this country and now has five stores in London.
Urban Outfitters is known as having a technology-oriented investment culture, which has seen it invest heavily in its mobile and technology platforms. Recent initiatives have included the introduction of an innovative loyalty scheme that is integrated with its mobile app.
It is also focusing on improving store technology, upgrading legacy systems and establishing multichannel capabilities as well as increasing its social media presence.
The group delivered record sales for the year ending January 31 2023 (FY2022) with revenues rising 5.4% to $4.8bn (£3.9bn). Within this retail sales climbed 3.9% to $4.4bn (£3.6bn) with like-for-like sales rising 4% year-on-year.
The UK business, URBN UK, is yet to file at Companies House for FY2022, but posted sales of £316m, up 42% year-on-year in FY2021.
Innovation rating: 2
![Cambridge[80]](https://d53bpfpeyyyn7.cloudfront.net/Pictures/100x67/6/2/8/3105628_cambridge80_758416.jpg)
