Urban Outfitters to Rent Out Clothing

Sign For Clothing Brand Urban Outfitters

Urban Outfitters is launching an online subscription service which allows subscribers to borrow six items of clothing (and accessories) for a month before swapping them.

The retailer says that this appeals to millennials in terms of variety and sustainability. Urban Outfitters' online subscription service will offer a womenswear service and it will be called Nuuly -- which will launch this summer in the United States.

Right now there are no details on whether this will be offered internationally. The nascent market for online clothing rental is set to grow to $2.5bn by 2023, according to research firm GlobalData.

Urban Outfitters' chief digital officer David Hayne told the Wall Street Journal that he expects Nuuly to have 50,000 subscribers and generate $50m in sales in its first year.

The BBC also reports that Urban Outfitters said: "Interest in sharing-economy platforms and recurring subscription relationships has grown across industries

"In apparel, the millennial consumer, in particular, is seeking out platforms that provide novelty, variety and breadth, while also supporting sustainability."

Subscribers can choose to buy an item or return all the clothing they borrowed before they receive anything else. The returned garments are washed or dry cleaned and inspected before they are loaned out again.

What are your guys' thoughts on Urban Outfitters launching a rental subscription service?

PHOTOS: Getty Images

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