Outfits for Urbaners! by Mia Dror https://padlet.com/201124518/8veo7q14ruuxsohp product development en-us 2021-10-05 13:52:47 UTC 2024-05-23 00:58:19 UTC hello@padlet.com Urban Outfitters was created in 1970 by two retail novices, anthropology graduate Richard Hayne and his former roommate at Lehigh University, Scott Belair. 201124518 https://padlet.com/201124518/8veo7q14ruuxsohp/wish/1793130925 2021-10-05 13:56:15 UTC https://padlet.com/201124518/8veo7q14ruuxsohp/wish/1793130925 Over beer one night, Richard and Scott came up with the idea of a store for college and graduate students, selling cheap clothes and items for dorm rooms and apartments. With $5,000, they opened the Free People Store in Philadelphia, near the campus of the University of Pennsylvania. 201124518 https://padlet.com/201124518/8veo7q14ruuxsohp/wish/1793134600 2021-10-05 13:57:07 UTC https://padlet.com/201124518/8veo7q14ruuxsohp/wish/1793134600 In 1976, they moved to larger quarters near the university, changed the store's name to Urban Outfitters, and incorporated the company. In 1980, with sales around $3 million, Hayne opened a second store, in Cambridge, Massachusetts, close to several colleges. 201124518 https://padlet.com/201124518/8veo7q14ruuxsohp/wish/1793138991 2021-10-05 13:58:14 UTC https://padlet.com/201124518/8veo7q14ruuxsohp/wish/1793138991 New stores in the chain followed the original concept and were located in metropolitan areas near college students. By 1995, Urban Outfitters stores would be established in Madison, Wisconsin; Ann Arbor, Michigan; Boston; Minneapolis; Seattle; New York; Washington, D.C.; Chicago; and Portland. Moreover, the chain would also secure a presence in California, with five locations in college towns. Even when Hayne was tempted to drift from his original concept, store locations kept the company focused on its college-age market. 201124518 https://padlet.com/201124518/8veo7q14ruuxsohp/wish/1793142167 2021-10-05 13:59:00 UTC https://padlet.com/201124518/8veo7q14ruuxsohp/wish/1793142167 Recognizing that private label merchandise generally yielded higher gross profit margins than brand name merchandise, Hayne created the wholesale division in 1984 to design, produce, and sell its own line of junior sportswear. Michael Schultz joined the company in 1986 as president of Urban Wholesale, Inc. Schultz had previously served as president of Andrew Fezza International Division of Levi Strauss & Company and as a vice-president of merchandising at Pierre Cardin. 201124518 https://padlet.com/201124518/8veo7q14ruuxsohp/wish/1793149837 2021-10-05 14:00:43 UTC https://padlet.com/201124518/8veo7q14ruuxsohp/wish/1793149837 In 1990, the division replaced its signature Urban Outfitters collection brand with three separate labels: Ecote, Free People, and Anthropologie. The three apparel labels each targeted a different audience. 201124518 https://padlet.com/201124518/8veo7q14ruuxsohp/wish/1793151420 2021-10-05 14:01:08 UTC https://padlet.com/201124518/8veo7q14ruuxsohp/wish/1793151420 In 1995, an Urban Outfitters store opened in Portland, Oregon, and lease signings were announced in Austin, Texas, and Tempe, Arizona, moving the company into the southwest for the first time. With steadily increasing sales during this time, the company gained a ranking as number 76 on the Business Week list of hot growth companies. 201124518 https://padlet.com/201124518/8veo7q14ruuxsohp/wish/1793154654 2021-10-05 14:01:57 UTC https://padlet.com/201124518/8veo7q14ruuxsohp/wish/1793154654