Urban Outfitters, Inc. (URBN) is a multinational lifestyle retail corporation headquartered in Philadelphia, Pennsylvania. Operating in the United States, the United Kingdom, Canada, select western european countries, Poland the United Arab Emirates, Kuwait, and Qatar, the Urban Outfitters brand targets young adults with a merchandise mix of women's and men's fashion apparel, footwear, beauty and wellness products, accessories, activewear and gear, and housewares, as well as music, primarily vinyl records and cassettes. The company was founded as the retail store Free People by Richard Hayne, Judy Wicks and Scott Belair in 1970 as a project for an entrepreneurship class at University of Pennsylvania. It was renamed to Urban Outfitters and incorporated in 1976. Urban Outfitters, Inc. (URBN) carries multiple stores within the URBN portfolio of brands, which also includes Anthropologie, Free People, Terrain, BHLDN and the Vetri Family restaurant group. Much of the merchandise is designed and produced by the company's wholesale division on these multiple private labels. Corporate history In the 1970s, Dick Hayne opened a store and called it Free People in West Philadelphia, Pennsylvania. As the store eventually grew from one to two storefronts, the name was changed from Free People to Urban Outfitters. In 2007, the company received the National Preservation Honor Award from the National Trust for Historic Preservation for the Urban Outfitters Corporate Office Campus located on the Philadelphia Naval Shipyard. In 2011, it agreed to sell limited editions of Polaroid ONE600 instant cameras and Type 779 instant film in partnership with the Austrian entrepreneur Florian Kaps, who acquired the rights to manufacture 700 copies of the defunct product. In January 2013, it hired the Abraham & Roetzel lobbying firm, led by former Republican Sen. Spencer Abraham, to advocate on its behalf in Washington, D.C., regarding retail industry policy. In Q4 2015, the company announced plans to acquire the Vetri Family, a Philadelphia restaurant group. As the company was facing declining same store sales and foot traffic, the acquisition illustrated the retailer's shift in strategy. This includes restaurants Amis Trattoria, Bar Amis, and Pizzeria Vetri. There are two Pizzeria Vetri locations in Philadelphia, with other locations in King of Prussia, Pennsylvania and Washington, D.C. In 2019, the company drew attention by announcing the sale of used VHS tapes for $40. Inn the same year, Urban Outfitters launched Nuuly, a subscription clothing rental service. Following that, the company launched Nuuly Thrift, a resale platform for