The History of Urban Outfitters
Urban Outfitters is a popular American lifestyle retail corporation which was founded in 1970 by Richard Hayne, Scott Belair, and Judy Wicks. The company initially started as a small store located in Philadelphia, Pennsylvania, selling vintage and retro clothes.
The Growth of Urban Outfitters
Urban Outfitters started to expand its business by opening new stores in different cities across the United States. The company also began to introduce its own line of clothing, accessories, and home décor products in the early 1990s.
Urban Outfitters Today
Today, Urban Outfitters has become a global brand with stores in several countries around the world. The company is known for its unique and trendy products that cater to the younger generation. Urban Outfitters also owns several other brands such as Anthropologie, Free People, and Terrain.
The Ownership of Urban Outfitters
Richard Hayne is the current CEO and Chairman of Urban Outfitters. He co-founded the company in 1970 and has been leading it ever since. Hayne owns around 18% of the company's shares, making him one of the largest shareholders.
Other Major Shareholders
Aside from Hayne, there are several other major shareholders in Urban Outfitters. The largest institutional shareholder is The Vanguard Group, Inc., which owns approximately 10% of the company's shares. BlackRock, Inc. and State Street Corporation are also among the largest shareholders of Urban Outfitters.
Urban Outfitters' Revenue
According to the company's latest financial report, Urban Outfitters had a revenue of $4.0 billion in 2020. The company's revenue has been steadily increasing over the years, with a revenue of $3.9 billion in 2019 and $3.6 billion in 2018.
The Future of Urban Outfitters
Urban Outfitters continues to be a popular brand among the younger generation, with a strong online presence and a loyal customer base. The company has also been expanding its business in the international market, with stores in several countries around the world.
Conclusion
Urban Outfitters is a well-established brand that has been around for over 50 years. The company has built a strong reputation for its unique and trendy products that cater to the younger generation. Richard Hayne, the co-founder of the company, is the current CEO and Chairman and owns approximately 18% of the company's shares. With a strong online presence and a loyal customer base, Urban Outfitters is poised to continue its growth in the future.