PHILADELPHIA, April 19, 2021 (GLOBE NEWSWIRE) – Urban Outfitters, Inc. (NASDAQ: URBN), a leading global lifestyle retailer, today announced a partnership with FABSCRAP to help the organization reduce the impact of the fashion industry on the planet. URBN will facilitate FABSCRAP’s expansion in the mid-Atlantic region by providing a new physical FABSCRAP location in Philadelphia and a working capital grant.
URBN’s relationship with FABSCRAP began in 2019 as part of the company’s efforts to reduce waste in its supply chain. Every year, over 6.3 million tonnes of textiles are wasted during the design and production process make clothes (A new textile economy: rethinking the future of fashion, Ellen McArthur Foundation). URBN started working with FABSCRAP to recycle waste fabrics from their knitting, sampling and pattern making rooms.
Based in New York City, FABSCRAP is a non-profit organization that has developed a system for the reuse and recycling of textile waste. FABSCRAP is dedicated to tackling the problem of commercial textile waste in the fashion industry, by diverting as much unused material as possible from landfill or incineration, while simultaneously creating an accessible material resource for consumers. creative communities.
“We are delighted to partner with FABSCRAP as the next step in our sustainability journey,” said Frank J. Conforti, Co-President and COO, URBN. “Philadelphia is a great place to grow because of the local demand for services and the many relationships with design and art universities and nonprofit organizations in the area. We believe this expansion will facilitate an infrastructure solution for FABSCRAP and our community, ”Mr. Conforti concluded.
“It’s fantastic that URBN is supporting the fabric recycling and reuse infrastructure that FABSCRAP is building. This infrastructure is a key part of a more sustainable future for fashion, ”said Jessica Schreiber, CEO of FABSCRAP. “We are leading the change in the way the industry treats fabric waste during the design process, although our work relies on the companies and individuals in the industry who recognize the problem and actively seek a solution. URBN actively contributes to our growth, increasing the accessibility of our services and accelerating our impact, ”concluded Ms. Schreiber.
For more information on the URBN x FABSCRAP partnership, please visit URBN Making an Impact. For more information on FABSCRAP and its mission as a textile reuse and recycling resource, please visit www.fabscrap.org.
Urban Outfitters Inc. (URBN) is a leading lifestyle products and services company operating a portfolio of global consumer brands including the brands Anthropologie, BHLDN, Free People, FP Movement, Terrain, Urban Outfitters , Nuuly and Menus & Venues. The company’s brands offer general merchandise and lifestyle-oriented consumer products in 644 stores across the United States, Canada and Europe, on global websites and catalogs. Free People, FP Movement, and Urban Outfitters wholesale their products in department and specialty stores around the world, digital businesses, and the company’s retail sector.
This press release is prepared in accordance with the “safe harbor” provisions of the Private Securities Litigation Reform Act 1995. Certain matters contained in this press release may contain forward-looking statements. When used in this press release, the words “plan”, “believe”, “plan”, “want”, “anticipate”, “expect” and similar expressions are intended to identify forward-looking statements, but not all forward-looking statements contain these identifying words. Any or all of the following factors could cause actual financial results to differ materially from those mentioned in forward-looking statements: impacts of public health crises such as the coronavirus pandemic (COVID-19), difficulty predict and respond to changes in fashion trends, changes in competitive price levels and promotional activity and other industry factors, global economic and market conditions and global political events and the resulting impact on consumer spending habits, the effects of the UK implementation Withdrawal of the UK from EU membership (commonly referred to as ‘Brexit’), including fluctuations monetary, economic conditions and legal or regulatory changes, effects of war, terrorism and civil unrest, natural disasters, meteorological conditions logical or severe or unusual weather conditions health crises, increased labor costs, increased raw material costs, availability of re back space for expansion, timing of store openings, risks associated with l ‘international expansion, seasonal fluctuations in gross sales, departure of one or more key senior executives, import risks, changes in US and foreign trade policies, including the adoption of tariffs, border adjustment of taxes or increases in rights or quotas, the closure or disruption or damage to any of our distribution centers, our ability to protect our intellectual property rights, the risks associated with digital sales, our ability to maintain and to develop our digital sales channels, response to new store concepts, our ability to integrate acquisitions, t any material disruption or breach of security regarding our technology systems, non-compliance by our manufacturers and third-party suppliers with our social compliance program, changes in our effective income tax rate (including uncertainties related to US law on tax reductions and employment), changes in accounting standards and umptions, regulatory changes and legal matters and other risks identified in documents filed by the company with the Securities and Exchange Commission. The Company disclaims any intention or obligation to update any forward-looking statements, even if experience or future changes clearly indicate that actual results may differ materially from any projected results expressed or implied therein.
|Director of Investor Relations|