Hello! Welcome email from Urban Outfitters.
I don’t shop at Urban Outfitters. Perhaps it because I am too old or the fact that I don’t really care for their style, but I am told that they are a pretty cool clothing and accessories retailer.
That being said, I signed up to get their emails and got a really interesting welcome email. (see below) While I don’t particularly understand the pictures in the email, I am sure their target audience can relate to them. Despite that, the email is well laid out and the offer is clearly represented above the fold. The subject line was simple: Hello! Again, I am a big fan of simplicity and it seems to work in this case. Since Urban Outfitters target audience it a niche group, I am sure that this email does resonate with them.
On a side note, after I gave my email address, I was taken to their preference center which simplistic in nature, served its purpose. I will be tracking them over the course of the next couple of weeks to see if they are sending me relevant content.
So to summarize, Urban Outfitters sent me a pretty good welcome and that is the first step in an email relationship. I welcome your thoughts.

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Hello might be effective for some mailers, but I’d recommend something a little more polished… Hello from “XYZ” maybe just to have a higher recall from a user.
Although that might be in the From address which you didn’t mention… What was it BTW?
Hey Matt,
From address shows urbanoutfitters.com and I agree that it should be a little more polished in the subject line, but then again I would love to know their stats for the email and if they are doing any subject line testing on it.