- Urban Outfitters Inc URBN is launching Nuuly Thrift, a resale marketplace, in Fall 2021.
- Anyone can buy or sell women's, men's, and kids' apparel and accessories through the marketplace.
- Nuuly Thrift will be a sister platform to Nuuly Rent, the subscription rental service for women's apparel.
- When customers sell an item on Nuuly Thrift, they can transfer their earnings directly into their bank account or redeem them for Nuuly Cash.
- "With the launch of Nuuly Thrift, we're excited for URBN to capitalize on shifting customer behavior and gain market share in the rapidly expanding online resale market," said CEO and Chairman Richard A. Hayne.
- Price Action: URBN shares are trading higher by 4.01% at $40.18 on the last check Tuesday.
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