Hypebeast, the nearly 20-year-old magazine and website known for covering streetwear, has officially closed its HBX brick-and-mortar department store in New York City.
A source has confirmed with Complex that the store, located on 41 Division Street on the border of lower Manhattan's Chinatown, has officially closed. Hypebeast has not responded to any requests for comment. HBX's website only lists its other flagship in Hong Kong as its sole retail store. Google Maps also lists the HBX store as a "permanetly closed" business and a recent Google review left for the store claims that the store's merchandise has already been cleared out and that no one has been seen coming in or out the shop.
The HBX store opened on June 17, 2022 and was apart of a seven-story building that Hypebeast turned into its New York City headquarters. Aside from being the home of HBX's retail store, it also housed a coffee bar, offices, and an event space.
The store's closing comes after the Hong Kong-based media company reported a net loss of $651,000 for the fiscal year of 2023 in June. That loss came from fees tied to a failed merger with the special purpose acquisition company, Iron Spark I, that was anticipated to go through in Dec. 2022. The SPAC was supposed to make Hypebeast a publicly listed company on NASDAQ and bring $180 million in proceeds to Hypebeast.
HBX is the latest brick-and-mortar store centered on streetwear to close within New York City. Earlier this month, the Swedish sneaker boutique Sneakersnstuff shuttered its Manhattan flagship and its SNS Bar along with its other outpost in Los Angeles. In Oct. 2023, Foot Locker announced it would be closing all of its Atmos stores in North America, which included its location in Harlem.
