Rent Clothing? This Business's 68% Customer Growth Says Yes.
Urban Outfitters (NASDAQ: URBN) is a mall staple. Largely focused on selling fashion apparel for younger customers, it always has to be at the cutting edge of design. That can lead to the company's brands falling out of favor with customers at times. But there's an interesting new division at the company that suggests it is increasingly important to interact with customers in new ways, too. Aptly, the new division is named Nuuly, and you'll want to pay close attention to it if you invest in any retailer.
There are some retailers that sell basics, which tend to remain in fashion no matter what is going on in the world. Everyone needs simple jeans and T-shirts. But Urban Outfitters is largely focused on delivering fashion styles to customers, which is a bit more difficult. Miss a trend, and your store could find itself devoid of customers. That's actually a problem right now for Urban Outfitters' namesake brand.
Image source: Getty Images.
Source Fool.com
