Urban Outfitters wants into your belly and has shelled out a good chunk of dough to make that happen. The retail destination that’s beloved/detested by fixed-gear bicyclists worldwide has sorted out an agreement to purchase Marc Vetri and Jeff Benjamin’s Philly-based restaurant group the Vetri Family. Once the deal goes through, Urban Outfitters will be in control of Osteria, Amis, Alla Spina, Lo Spiedo, and Pizzeria Vetri. The restaurants will be nestled into the company’s own subsidiary called URBN.
Business Insider reports that Urban Outfitters is suffering from an extended run of declining quarter sales totals. Is bringing pizza into the mix going to solve those problems? Company CEO Richard A. Hayne seems confident slices can be a savior. Why? Because pizza is a miracle.
“Spending on casual dining is expanding rapidly, and thus, we believe there is tremendous opportunity to expand the Pizzeria Vetri concept,” Hayne said on Monday.
Pizzeria Vetri definitely seems to be the crown jewel financially for Urban Outfitters in this eatery acquisition. Business Insider speculates that you’re likely to see Pizzeria Vetri and “other new concepts” pop up in new and existing stores in the company’s future. As for the current restaurants that are set to fall under the URBN umbrella, Philly.com notes that no logo or branding modifications appear to be in the cards just yet.
