Casual apparel retailer Urban Outfitters is getting into the pizza business after purchasing The Vetri Family group of restaurants, which features the award-winning Pizzeria Vetri. The sale price is undisclosed, but the Philadelphia-based international company is counting on a revenue rush driven by an improved shopping experience for its customers.
Forbes Magazine reports the rapid growth of consumer spending on fast-casual dinning attracted the retailer, which operates more than 400 locations in the U.S., Canada and Europe. Offering what Forbes describes as "preppy, quirky clothing," Urban Outfitters hopes to win back in-store customers lost to increased online shopping. It's not clear how the company, which has previously offered on-sitet coffee shops, will utilize the Vetri restaurants. Offering pizza in clothing stores or clothing in pizzerias are both tactics to "bring in different customers who can end up buying apparel and accessories."