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.
After 16 years of selling T-shirts, jeans, and work boots, and with his original chain doing well, Hayne thus took the company's strategy to older, more established shoppers living in the suburbs of major metropolitan areas. Anthropologie targeted customers who were focused on family, home, and career, with interests in travel, the arts, gardening, and reading.
The Wayne store featured an espresso bar and placed greater emphasis on "hard-goods" such as furniture and a variety of home, garden, and tabletop products, including books and ceramics. The decor of Anthropologie tended to be rustic and ecologically conscious.
Product lines were intermixed and arranged in a variety of displays. For example, an antique bed might serve as the anchor for a section containing linens, towels, nightgowns, lingerie, soap, bath oils, picture frames, and mirrors. Another small area might feature children's clothes, books, toys, and note cards, while birdhouses and diaries of handmade paper might be found alongside men's sweaters and pants.
The wholesale division introduced the Cooperative product line of fashion basics, consisting mostly of lower-priced cotton knit tops and sweaters. Profits also increased with the successful expansion of the company's higher-margin private label program.
The wholesale division opened a large sales office in New York. The company implemented its "Shared Fate" program for employees and initiated a company-wide profit-sharing plan. Total sales for the year grew at 43 percent. Hayne used the capital to continue his strategic plan of growth by adding new stores on the retail side of the business and attracting new customers to the wholesale division while increasing sales to existing ones.
In , he opened three new Urban Outfitters stores, two in Chicago and one in Pasadena, and indicated that he planned to open three or four new stores each year for next three years, some of which were planned to be located outside the United States, either in Canada, Europe, or both. Based on the success of the Wayne, Pennsylvania, store, two more Anthropologie stores were opened in , in Westport, Connecticut, and Rockville, Maryland, just outside Washington, D. In the company's annual report that year, Hayne indicated he hoped to open three to four additional Anthropologie stores each year and that the company would invest heavily in expanding the Anthropologie division.
Overall company sales grew by 30 percent from Recognizing that high rates of growth would be difficult to maintain, the company set a goal of 20 percent annual growth. In , 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. With steadily increasing sales during this time, the company gained a ranking as number 76 on the Business Week list of hot growth companies.
As it neared the end of the 20th century, the Urban Outfitters and Anthropologie chains appeared to be going strong, and, after a quarter century, Hayne and his staff were still successfully anticipating and responding to shifts in fashion trends and the changing tastes of their customers.
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The ideal entry-level account for individual users. Corporate solution including all features. Statistics on " Clothing and accessories in France " The most important statistics. The most important statistics. 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.
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