The Philadelphia Inquirerreports that Urban Outfitters plans to launch a wedding brand. The wedding brand will launch with an online store on Valentine's Day 2011. A physical store will follow the online store.
"We think this is going to be a meaningful business," Glen T. Senk, chief executive officer, told analysts today while reviewing the company's 2009 earnings, which included record sales of $1.9 billion and record profit of $220 million.
"Anybody we talk to about this goes, 'Wow, that's exciting,' " he said.
Urban Outfitters sees a large potential market in weddings. The Philadelphia Inquirer says Urban Outfitters' research indicates that the average wedding costs $45,000 with the bride spending $4,500 on clothes and accessories. WWDreports that Urban Outfitters' wedding brand will sell heirloom gowns that cost between $1,000 to $5,000.
The Philadelphia Inquirer 
