Why Is Urban Outfitters Buying an Italian Food Chain?
Urban Outfitters (URBN) wants to sell you grungy hipster outfits and authentic Italian pizza. The Philadelphia-based retailer said Monday that it will acquire The Vetri Family restaurant group, also based in Philadelphia, with an eye toward helping the business expand. The restaurant group was founded by Marc Vetri, an Italian-trained, James Beard award-winning chef. His restaurants include Osteria, Vetri Ristorante and Pizzeria Vetri, which was named by Food & Wine as one of the best pizza places in the U.S.