The bright side is that since today RadioShack. Arduino Microphone Radioshack… has actually officially been acquired by Retail Ecommerce Ventures (REV), giving the distressed company a new lease on life. The disadvantage, at least for folks like us, is that there are no immediate strategies to return the renowned electronic devices merchant to its brick-and-mortar roots. As the name implies, REV focuses on online retail, having actually formerly revamped the Internet presence of other insolvent services such as Pier 1 Imports and Dressbarn.
While journalism release does not outright prevent the possibility of new physical RadioShack places, it’s clear that REV thinks the future of retail isn’t to be found in your regional shopping center. As the US mulls further lockdowns in response to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be millions of bored kids and adults trying to find something to do throughout the long winter season nights, and an electronic set or more delivered to their door might be simply the thing.
REV says they plan to relaunch the rather outdated RadioShack site just in time for the company’s 100th anniversary in 2021. Since this composing the site currently says that sales have actually been briefly halted to permit inventory restructuring, though it’s uncertain if this is directly related to the buyout or not. Getting a precise count of how much product the company still has on hand after shuttering the majority of their physical places in 2017 certainly sounds like something the brand-new owners would wish to do.
We all know how that story ended.
RadioShack’s shambling remains were provided another jolt of life today when they were acquired 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 as well, including Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV states RadioShack’s website currently has “strong existing sales and sales capacity,” and the company is “confident” it can further raise awareness of the brand name globally.
REV claims it’s effectively turned around other business it’s introduced as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its income in between the second and very first quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anybody looking to grab tech essentials. For a very long time, that implied actual radio parts, but wound up including great deals of electronic toys (one Verge editor fondly remembers his Armatron) and eventually phones. Its fortunes decreased significantly as online shopping arrived, and the business applied for personal bankruptcy two times in the past five years. RadioShack still accredits its name to third-party “authorized” stores and sells top quality products within some places of HobbyTown, a crafts merchant– similar to how you can still discover “Sharper Image” items at Kohl’s although that merchant shut its physical doors over a years back. REV didn’t say whether those RadioShack licenses would remain. Arduino Microphone Radioshack
REV says it will “soon relaunch” RadioShack’s website. For those of you still clinging on to fond memories of the shop, there’ll be a familiar sufficient place to go when you desire to buy costly HDMI cables and knockoff earphones.