Fortunately is that since today RadioShack. 32-1174 Radioshack… has actually officially been acquired by Retail Ecommerce Ventures (REV), giving the troubled company a new lease on life. The downside, at least for folks like us, is that there are no immediate strategies to return the renowned electronics retailer to its brick-and-mortar roots. As the name suggests, REV focuses on online retail, having actually previously revamped the Web existence of other bankrupt businesses such as Pier 1 Imports and Dressbarn.
While the press release does not straight-out prevent the possibility of brand-new physical RadioShack areas, it’s clear that REV believes the future of retail isn’t to be discovered in your local shopping center. As the United States mulls even more lockdowns in reaction to the continuing COVID-19 pandemic, it’s tough to disagree. There will be millions of bored kids and adults searching for something to do throughout the long winter nights, and an electronic set or 2 delivered to their door might be simply the thing.
REV says they plan to relaunch the rather dated RadioShack website just in time for the company’s 100th anniversary in 2021. Since this composing the website currently states that sales have actually been momentarily halted to allow for inventory restructuring, though it’s uncertain if this is directly related to the buyout or not. Getting an accurate count of how much product the business still has on hand after shuttering the majority of their physical places in 2017 definitely sounds like something the new owners would wish to do.
Like most of you, we have fond memories of the Golden era of RadioShack, back prior to they believed offering tvs and phones was somehow a good concept. To their credit, they did attempt and revive their relationship with hackers and makers by asking the neighborhood what they ‘d want to see in their shops. We all know how that story ended. While it does not appear like this news will get us any closer to having a community store that stocks resistors, there’s a particular convenience in understanding that RadioShack packages and books will still be around for the next generation.
RadioShack’s shambling remains were given another jolt of life today when they were bought by another business that prepares to relaunch the once-great seller as an online-focused brand name.
The store’s remains were bought by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brand names from other faded retail giants as well, including Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV states RadioShack’s site currently has “strong existing sales and sales potential,” and the business is “positive” it can even more raise awareness of the brand name internationally.
REV declares it’s effectively turned around other companies it’s launched as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its income in between the 2nd and first quarter of 2020.
RadioShack was established in 1921 and became a retail staple in the ’80s and ’90s for anybody looking to grab tech basics. REV didn’t state whether those RadioShack licenses would stick around. 32-1174 Radioshack
REV says it will “soon relaunch” RadioShack’s website. For those of you still sticking on to fond memories of the store, there’ll be a familiar adequate location to go when you want to purchase pricey HDMI cables and knockoff earphones.