The bright side is that as of today RadioShack. 42-2493 Site Radioshack.Com… has formally been bought by Retail Ecommerce Ventures (REV), providing the troubled business a new lease on life. The disadvantage, a minimum of for folks like us, is that there are no instant plans to return the renowned electronics seller to its brick-and-mortar roots. As the name indicates, REV concentrates on online retail, having actually formerly revamped the Web presence of other insolvent businesses such as Pier 1 Imports and Dressbarn.
While the press release does not straight-out preclude the possibility of new physical RadioShack locations, it’s clear that REV thinks the future of retail isn’t to be discovered in your local strip mall. As the United States mulls further lockdowns in response to the continuing COVID-19 pandemic, it’s hard to disagree. There will be millions of bored kids and adults looking for something to do throughout the long winter nights, and an electronic package or more shipped to their door might be just the thing.
REV states they plan to relaunch the rather dated RadioShack website just in time for the business’s 100th anniversary in 2021. Since this composing the website presently states that sales have actually been temporarily stopped to allow for inventory restructuring, though it’s uncertain if this is straight related to the buyout or not. Getting an accurate count of how much product the company still has on hand after shuttering the majority of their physical areas in 2017 definitely seems like something the new owners would want to do.
We all know how that story ended.
RadioShack’s shambling remains were offered another shock of life today when they were bought by another company that prepares to relaunch the once-great seller as an online-focused brand name.
The store’s remains were purchased by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brand names from other faded retail giants too, including Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV states RadioShack’s site currently has “strong existing sales and sales potential,” and the company is “confident” it can even more raise awareness of the brand internationally.
REV declares it’s successfully reversed other business it’s released as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its income between the 2nd and first quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anyone wanting to grab tech basics. For a long time, that indicated real radio components, but ended up consisting of lots of electronic toys (one Verge editor fondly remembers his Armatron) and eventually phones. Its fortunes declined greatly as online shopping got here, and the company applied for personal bankruptcy two times in the past five years. RadioShack still licenses its name to third-party “licensed” stores and sells top quality items within some places of HobbyTown, a crafts merchant– similar to how you can still discover “Sharper Image” products at Kohl’s although that merchant shut its physical doors over a decade back. REV didn’t state whether those RadioShack licenses would remain. 42-2493 Site Radioshack.Com
REV says it will “soon relaunch” RadioShack’s site. So for those of you still sticking on to fond memories of the shop, there’ll be a familiar adequate place to go when you want to buy expensive HDMI cable televisions and knockoff earphones.