Tuesday, June 30, 2015

Urban Outfitters to acquire Nasty Gal?

Is Navy Yard-based company Urban Outfitters eyeing e-retailer Nasty Gal?

Urban Outfitters to acquire Nasty Gal?

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Screen grab from the Nasty Gal website.
Screen grab from the Nasty Gal website.

Could it be true? Is Navy Yard-based company Urban Outfitters eyeing e-retailer Nasty Gal?

In a profile with the New York Times published Sunday, Nasty Gal founder Sophia Amoruso mentioned in passing that she is currently entertaining the possibility.

Bigger competitors are taking notes. Urban Outfitters recently contacted Ms. Amoruso about a potential acquisition, according to people briefed on the discussions. Asked about that, Ms. Amoruso said only, “We’re talking.”

What started in 2006 as an eBay page for Amoruso has grown into a lucrative opportunity for the 28-year-old community college dropout. In 2012 alone, Nasty Gal made a profit of $100 million and raised approximately $50 million from Index Ventures. Last month, the e-retailer landed on Fast Company's list of the 50 most innovative companies under the fashion and beauty category, alongside Modcloth, Birchbox and Snapette.

We've reached out to Urban Outfitters for comments related to the potential acquisition. More to come.

Philly.com
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