Article Excerpt:
TWST: Would you begin with an overview of Urban Outfitters, how you see the company today?Mr. Kyees: Today, the company is in a relatively early stage of growth. It's been around for over 30 years, 34 years actually, founded in 1970 and it operates three concepts. The Urban Outfitters concept has 75 stores with a potential to grow to 200; and the Anthropologie concept has 65 stores with a potential to grow to 250 stores. The business is focused on two very different customer bases. The Urban Outfitters brand focuses on an 18- to 30-year-old customer or, as we call them, the upscale homeless, who have left their parents' home for college and are living in a dorm or an apartment, or they've graduated from college and they are probably living in an apartment. We sell men's, women's, and home or apartment ware to that customer. The Urban male and female customers often shop together. They are still in the mating cycle, trying to find that significant other. That's one of the reasons we provide men's clothing for that customer group. We also provide a video lounge in the Men's department to keep them interested when they tire of shopping. Anthropologie is a very separate business that is focused on a 30- to 45-year-old customer at a very different stage in her life cycle. She is typically well educated, affluent, probably married or at least has a serious relationship and in many cases has children. We sell her apparel and home products and there is no men's portion of that business. The concepts are focused on a very eclectic assortment of merchandise, the antithesis of many retailers who focus on a narrow and deep assorment. Urban offers a more broad and shallow assortment.
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