This Is the Reason Urban Outfitters Bought a Pizza Chain
Marc Vetri, owner of Philadelphia's Amis and Pizzeria Vetri, talks candidly about the "non-stop evolving" deal between his company and the retail giant.
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The day millennial retailer Urban Outfitters announced it was buying Philadelphia’s Vetri Family group of restaurants, including Pizzeria Vetri, to complement its clothing stores, its stock fell as much as 10 percent.
Wall Street analysts couldn't get their heads around why Urban Outfitters would incorporate restaurants into its brand. Other chefs were also confused by last November's deal: How did a well-respected chef do the hardest thing in the business — make a lot of cash to the tune of $20 million — while still retaining his flagship location? Peter Elliot caught up with Marc Vetri to find out how the tie-up is working and whether he thinks retail and dining are a logical match. Comments have been edited and condensed.