Early Life
Richard Hayne was born on May 26, 1947, in Bryn Mawr, Pennsylvania, and grew up in the Philadelphia suburbs. He graduated from Lehigh University in 1969 with a degree in anthropology. During his college years, he developed an interest in countercultural trends, which later influenced the aesthetic of his retail ventures.
Rise to Success
In 1970, Hayne co-founded Urban Outfitters, Inc., with his former wife, Judy Wicks. The first store, originally called Free People, was located near the University of Pennsylvania and aimed to cater to young people. The company grew to include brands like Anthropologie and Free People, creating a global lifestyle and fashion empire. Hayne served as chairman and president since 1976 and became CEO in 2012 after the retirement of Glen Senk.
Key Business Strategies
Hayne focused on selling a cultural aesthetic, marketing to young consumers with eclectic, vintage-inspired styles and home goods. Urban Outfitters became known for identifying and adapting to cultural trends. Hayne took Urban Outfitters public in 1993.
Philanthropy
Richard Hayne and his wife, Margaret Hayne, are active in philanthropy. Hayne has donated to Drexel University and serves on boards of various institutions.
