Early Life and Education
Richard Hayne was born on May 26, 1947. He grew up in the Philadelphia suburbs and later attended Lehigh University, where he earned a degree in anthropology in 1969. This background shows his early interest in understanding cultural trends and alternative lifestyles, which would later influence his business ventures.
Rise to Success
In 1970, Hayne co-founded Urban Outfitters with Judy Wicks and Scott Belair, initially as a retail store called Free People, near the University of Pennsylvania. The business was incorporated in 1976 and rebranded as Urban Outfitters. Hayne became the President and CEO in 1976. Under his leadership, the company expanded, adding brands such as Free People and Anthropologie, and growing to over 400 stores worldwide.
Key Business Strategies
Hayne's strategies have included creating unique retail experiences and fostering a sense of community. He has focused on curating a mix of apparel, accessories, and home products that resonate with a creative and culturally aware customer base. Urban Outfitters has distinguished itself through its focus on style and culture, offering ever-changing displays and inviting floor plans, while eschewing traditional advertising.
Philanthropy
Richard Hayne has been involved in various philanthropic endeavors. He has contributed to Drexel University, donating $100,000 after receiving the Edward Powell Award in 2011. Hayne also serves on the boards of the Independence Seaport Museum, the Morris Arboretum of the University of Pennsylvania, and the Stroud Water Research Center.