Hot Topic Launches "Hot Topic Replay," a New Resale Program Enabled by thredUP

Rhea-AI Summary

Hot Topic has launched Hot Topic Replay, a new resale program powered by thredUP (NASDAQ: TDUP). This initiative allows customers to buy secondhand items from Hot Topic and other pop culture brands while also offering them the ability to sell their gently-used apparel for store credit. The program is part of Hot Topic's commitment to sustainability, aiming to breathe new life into pop culture merchandise. With thredUP's extensive experience in resale, Hot Topic aims to create a seamless shopping experience, encouraging customers to engage with the brand in a more sustainable way.

Positive

• Launch of 'Hot Topic Replay' enhances customer engagement and brand loyalty.
• Partnership with thredUP provides expertise in resale, facilitating a smooth program rollout.
• The initiative aligns with sustainability efforts, appealing to environmentally-conscious consumers.

Negative

• None.

Leveraging thredUP's Resale-as-a-Service^Ⓡ, Hot Topic now offers secondhand items from its own brand and other pop culture brands

LOS ANGELES and OAKLAND, Calif., Oct. 12, 2022 /PRNewswire/ -- Hot Topic, Inc., the leader in pop culture merchandising, and thredUP (NASDAQ: TDUP), one of the largest online resale platforms for women's and kids' apparel, shoes, and accessories, today announced "Hot Topic Replay," a 360-resale program that allows customers to shop secondhand products directly through its website and resell apparel for Hot Topic credit. Not only can customers purchase gently-used Hot Topic items, but they can also shop iconic pop culture brands on hottopic.thredup.com. "Hot Topic Replay" is enabled by thredUP's Resale-as-a-Service^Ⓡ (RaaS), which empowers some of the world's leading brands and retailers to deliver quality, seamless resale experiences to their customers.

"Incorporating resale into our business model is another step towards sustainability." -Steve Vranes, CEO of Hot Topic

"Incorporating resale into our business model is another step towards sustainability and an exciting opportunity for our customers. The launch of Hot Topic Replay provides our customers the ability to give their pop culture merchandise a second life," said Steve Vranes, CEO of Hot Topic. "Leveraging thredUP's RaaS was the right decision for us as they have more than a decade of experience powering resale at scale and were able to get us up and running in a short period of time."

In addition to purchasing secondhand products at hottopic.thredup.com, customers in the U.S. can earn shopping credit for gently-worn items by generating a prepaid shipping label from hottopic.thredup.com, filling any shippable box or bag with women's and kid's items from any brand in their closet, and shipping it to thredUP for free. Customers receive Hot Topic shopping credit for items sold on thredUP that can be used both online and in-store.

"Hot Topic is a brand that has maintained cultural relevance across decades. Their finger is on the pulse when it comes to younger shoppers who value self-expression and individuality or are seeking a dose of nostalgia," said James Reinhart, CEO of thredUP. "We're thrilled to enable Hot Topic Replay and believe that entering resale will help Hot Topic build brand affinity among customers who are on the hunt for that unique band tee or collectible item, while also serving as a new growth channel for the business."

thredUP has more than a decade of innovation and operational expertise to help brands like Hot Topic enter the resale ecosystem and embrace a more sustainable, circular future.

About Hot Topic, Inc.

Hot Topic, Inc. is the leading omni-channel merchandise destination for entertainment and music fans comprised of three unique brands: Hot Topic, BoxLunch and Her Universe. Known for its celebration of individuality, the portfolio of brands offer licensed apparel, accessories, collectibles, and more, that appeal to a diverse global audience. Based in Los Angeles, CA, the company operates a digital commerce platform as well as 800 Hot Topic and BoxLunch stores that serve as a source for community, discovery and inspiration. For more information, visit hottopic.com, boxlunch.com and heruniverse.com.

About thredUP

thredUP is transforming resale with technology and a mission to inspire a new generation of consumers to think secondhand first. By making it easy to buy and sell secondhand, thredUP has become one of the world's largest online resale platforms for women's and kids' apparel, shoes and accessories. Sellers love thredUP because we make it easy to clean out their closets and unlock value for themselves or for the charity of their choice while doing good for the planet. Buyers love shopping value, premium and luxury brands all in one place, at up to 90% off estimated retail price. Our proprietary operating platform is the foundation for our managed marketplace and consists of distributed processing infrastructure, proprietary software and systems and data science expertise. With thredUP's Resale-as-a-Service, some of the world's leading brands and retailers are leveraging our platform to deliver customizable, scalable resale experiences to their customers. thredUP has processed over 137 million unique secondhand items from 55,000 brands across 100 categories. By extending the life cycle of clothing, thredUP is changing the way consumers shop and ushering in a more sustainable future for the fashion industry.

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SOURCE thredUP

FAQ

What is Hot Topic Replay?

Hot Topic Replay is a new resale program that allows customers to buy and sell secondhand items through Hot Topic's website.

How does thredUP's service benefit Hot Topic?

thredUP provides the technology and expertise needed to power Hot Topic's resale program, enhancing customer experience.

When was the Hot Topic Replay program launched?

The Hot Topic Replay program was announced on October 12, 2022.

What can customers do with the items they sell?

Customers can send in gently-used items and receive store credit for items sold through the Hot Topic Replay program.

How does this program affect thredUP's stock symbol TDUP?

The launch of Hot Topic Replay may positively influence thredUP's business by expanding its resale service offerings, which could benefit TDUP's stock performance.