Urban Outfitters Essay

History Roommates at Lehigh University Richard Hayne and Scott Belair founded urban Outfitters in 1970. The two were just getting back from doing internships and volunteer work after completing their freshman year of college. Coming back for their sophomore year, the two discussed ideas of a store that sells inexpensive clothes and accessories for dorm rooms. The two open Free People Store in Philadelphia investing $5,000, the store sold inexpensive wore clothes, drug paraphernalia, candles, shirts, and jewelry. Successfully staying in business the two changed the name from Free People Store to Urban Outfitters. By 1980, the store generated over 3 million in sales, which allow the company to expand to Cambridge, Massachusetts. Urban Outfitters

is an American retail merchandiser, functioning as multiple retail stores; Urban Outfitters and Anthropologie&mdash. Urban Outfitters productions is sourced through its wholesale division Urban Outfitters Wholesale, Inc. Urban Outfitters has over 20 stores in major United States cities, featuring clothing, garnishes, and home furniture. The target market Urban Outfitters tends to reach out to be young adults between the ages 18 and 30. The urban styles and risk taking fashion suits the younger adults as the upscale more conservative pieces is more fitting for, the older individuals. Urban Outfitters offers men and women's clothing, which are under the design labels of Anthropologie, Co-Operative, Ecote, and Free People. Urban Outfitters company strategies are to locate their retail stores where the target market certainly

In 1995, Urban Outfitters adopted strict new standards based on this principle. Board of Directors is composed entirely of divisional independent directors. The Board of Directors also plays a major role in developing Urban Outfitters new business strategy. Urban Outfitters strategic plan receives briefings all throughout the year with critical implementations. Involved in succession planning and people development with a focus on CEO succession, and it looks at those who could be potential successors to executives and examines their backgrounds, capabilities, and developmental assignments.
Urban Outfitters believes it is important to maintain open communication between directors and management to foster effective oversight. The directors have frequent and direct contact with Urban Outfitters management. Managers join with the directors during board meetings in discussions of various business issues, such as scheduled meetings. Meetings enhanced by the relatively small size of Urban Outfitters board, which helps to foster openness and active