Urban Outfitters Inc. launches clothing rental service

Philadelphia-based popular retail chain Urban Outfitters Inc., whose family of brands sells trendy apparel that is particularly popular among college students and other young people, created by college friends Dick Hayne, Scott Belair and Judy Wicks, is entering into clothing rental market. Very soon it will launch its service with a name Nuuly. Monthly charges for six pieces would be $88.

Nuuly will compete with services like Rent the Runway and offer clothing from Urban Outfitters and other brands, including Levi’s.

Urban Outfitters Inc. currently has 245 stores, including dozens in Europe and Canada.