Hot Topic, Inc. (stylized as HOT TOPIC) is an American fast-fashion company specializing in counterculture-related clothing and accessories, as well as licensed music. The stores are aimed towards an audience interested in rock music and video gaming, and most of their audience ranges from teens to young adults. Approximately 40% of Hot Topic's revenue comes from sales of licensed band T-shirts.[7] The majority of the stores are located in regional shopping malls.[7]
The first Hot Topic store was opened in November 1989 in Montclair Plaza, Montclair, California,[8] by Orv Madden, a former executive at The Children's Place, who retired as CEO in 2000 and was replaced by Betsy McLaughlin, who headed the company until 2011. Lisa Harper assumed the position of CEO in March 2011 until Steve Vranes was announced as the new CEO in 2016. The company went public and began trading on NASDAQ in 1996.
In 2013, Hot Topic announced its sale to private equity firm Sycamore Partners for $600 million.[9] The company ceased publishing financial data after 2013, as previously required as a public company.[10][11]
The store has gone through a number of phases in its history, reflective of various alternative culture and pop culture (including geek culture) trends (prime examples being Lolita, goth, or cosplay outfits). In the early 2000s, the store was known for heavily marketing nu-metal merchandise relating to bands. During that period, the store was also known for its sales of controversial gel bracelets (often rumored to be "sex bracelets") as well as the equally controversial styles of phat pants-inspired bondage pants popular among teenagers in the late 1990s and early-to-mid 2000s.[12]
Hot Topic launched Torrid, a concept store that sells clothing for plus-size women, in 2001.[13] While still under the same parent umbrella as Hot Topic, in 2015 the company branched off to become Torrid, LLC.
In 2008, Hot Topic launched ShockHound, an online retailer and social networking music site.[14] In March 2011, Hot Topic made a public statement announcing the shutdown of ShockHound. The site is no longer live, all merchandise was moved to HotTopic.com, and the company ceased sales of MP3s.[15]
In 2012, Hot Topic launched Blackheart Lingerie, a concept store that sells lingerie and clothing for women.[17]
On May 26, 2015, Hot Topic announced its intent to acquire Geeknet Inc., owner of the online retailer ThinkGeek, for $122 million. However, the company received a $140 million counter-offer from GameStop, which Hot Topic did not choose to exceed.[18][19][20][21]
On October 14, 2015, Hot Topic launched BoxLunch, a gift and novelty retail store.[22] For every $10 spent, a meal is donated to a person in need.[23]
US$741.8 million (FY 2013)[2]
US$274.9 million (FY 2013)[5]
