Urban Outfitters launches lawn and garden retailer
Urban Outfitters Inc., a lifestyle consumer products company best known for clothing retailers such as Anthropologie, Free People and Urban Outfitters, has launched a lawn and garden format called “Terrain,” opening its first store last month in the Philadelphia area.
The Philadelphia location, called Terrain at Styer’s, sells plants, indoor and outdoor furniture, pottery and antiques, and also offers a landscape design service. It replaces a local nursery called Styer’s located near Chadds Ford, one of Philadelpia’s wealthiest suburbs. Urban Outfitters acquired Styer’s in February; information about the store can be viewed at ?terrainathome.com.
“The reason we did it is it’s an $85 billion market, dominated by Home Depot and Lowe’s, who do about 35 percent of the volume,” Urban Outfitter’s CFO John Kyees said recently at a Lehman Brothers retail conference. “The rest of the market is entirely fragmented, with a bunch of mom and pops.”
Kyees said Terrain will be targeted at the wealthy baby boomer customer. “They are hitting an age when they’re spending more in their retirement years than they were when they were working,” he said. “We think that the potential is probably 50 stores doing $20 million a store.”
Urban Outfitters Inc. is a specialty retailer and wholesaler with 122 Urban Outfitters retail stores in the United States, Canada and Europe; 106 Anthropologie retail stores in the United States; and 14 Free People stores. The company’s wholesale division sells its product to approximately 1,500 specialty stores, department stores and catalogs.