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Margaret A. Francis J. Richard A. Melanie Marein-Efron. In , Urban Outfitters stores averaged approximately 9, selling square feet. The decor within each stores was also unique, although the atmosphere remained similar throughout the chain—casual and fun. Much of this was due to the staff and the company's policy of listening to its customers. Hayne hired staff within the targeted age group and depended on their personal style to guide merchandising strategies.
Staff decided on the music to be played, even bringing in their own compact disks, and department managers were made responsible for the look of their sections. The chain's unconventional atmosphere, merchandise, and music attracted students younger than 18 as well. As one year-old explained to the Washington Post, "It's such a down-to-earth place, it's not a chain like the Gap andJ. Everything's really different. Urban Outfitters prepared its management, merchandising, and buying staff by recruiting recent college graduates and qualified store employees and sending them through a six- to nine-month "Management Development Program.
A "Manager-in-Training" program offered the on-the-job experience needed to become a departmental, assistant, or store manager. As the company grew, it took steps to keep its organizational structure relatively stable. Employees were eligible for profit sharing and stock options and took turns producing Urban World, a quarterly in-house newsletter. Articles in the newsletter included reports from various branches and profiles of employees and customers, providing market research as well as internal communications.
In , the company initiated it "Shared Fate" program, designed to increase team management and give every employee the responsibility and authority to make decisions to increase productivity. Recognizing that private label merchandise generally yielded higher gross profit margins than brand name merchandise, Hayne created a wholesale division in to design, produce, and sell its own line of junior sportswear.
Michael Schultz joined the company in as president of Urban Wholesale, Inc. The three apparel labels each targeted a different audience. Ecote produced solid and printed casual rayon dresses in styles ranging from baby dolls to A-lines and made up about 60 percent of the business in The Free People label produced sixties-era inspired designs and hip casualwear, while Anthropologie made young women's casual wear, primarily cotton, wool, and silk sweaters.
Schultz expected Anthropologie to become the wholesale division's biggest label because it was the most adaptable. As reported in Women's Wear Daily, before the change, 70 percent of the division's sales were to department stores and 30 percent to specialty stores.
In and , the Urban Wholesale division had revenue gains in excess of 76 percent and 56 percent, respectively. The company attributed this growth primarily to more and larger orders for the Anthropologie line from small and medium-sized specialty apparel stores.
It should be noted that while much of the inventory of the company's stores was from the three labels, buyers for Urban Outfitters and Anthropologie did not automatically buy from the wholesale division. Urban Outfitters and Anthropologie accounted for By , goods from Urban Wholesale shipped outside the United States, particularly to Japan, comprised 6 percent of total sales.
Merchandise made in the United States represented about 20 percent of the division's production. Our established ability to understand our customers and connect with them on an emotional level is the reason for our success.
The reason for this success is that our brands—Urban Outfitters, Anthropologie and Free People—are both compelling and distinct. Each brand chooses a particular customer segment, and once chosen, sets out to create sustainable points of distinction with that segment.
In the retail brands we design innovative stores that resonate with the target audience; offer an eclectic mix of merchandise in which hard and soft goods are cross merchandised; and construct unique product displays that incorporate found objects into creative selling vignettes.
The emphasis is on creativity. Our goal is to offer a product assortment and an environment so compelling and distinctive that the customer feels an empathetic connection to the brand and is persuaded to buy. As the number of stores grew and the wholesale division was revamped, company sales increased. In , sales increased Most of the increase, 75 percent, was due to new stores opened in and The largest selling product category in Urban Outfitters stores was women's apparel.
In , it accounted for one-third of total sales, followed by footwear and accessories at 27 percent, men's apparel at 22 percent, and apartment wares and gifts at 18 percent. In October , Hayne opened the first Anthropologie store in a renovated automobile dealership in Wayne, Pennsylvania, outside Philadelphia, and named Glen Senk president.
Latest Trade Change 0. Volume , Today's Range Pricing Previous Close. Today's High. Today's Low. Shares Out MIL. Market Cap MIL. Latest Developments More. About Urban Outfitters, Inc. Industry Retail Apparel. Executive Leadership Richard A. Key Stats 2. Return on Investment TTM.
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