The bright side is that since today RadioShack. Beats By Dre Studio Radioshack… has formally been bought by Retail Ecommerce Ventures (REV), giving the troubled company a new lease on life. The downside, a minimum of for folks like us, is that there are no immediate strategies to return the renowned electronic devices retailer to its brick-and-mortar roots. As the name indicates, REV focuses on online retail, having actually previously revamped the Internet existence of other insolvent organizations such as Pier 1 Imports and Dressbarn.
While journalism release does not outright prevent the possibility of brand-new physical RadioShack locations, it’s clear that REV believes the future of retail isn’t to be found in your regional strip mall. As the United States mulls even more lockdowns in reaction to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be countless bored kids and adults searching for something to do during the long winter nights, and an electronic kit or more shipped to their door might be simply the thing.
REV says they plan to relaunch the rather outdated RadioShack website just in time for the business’s 100th anniversary in 2021. Since this composing the site presently states that sales have actually been temporarily halted to permit inventory restructuring, though it’s unclear if this is straight related to the buyout or not. Getting a precise count of just how much merchandise the business 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 understand how that story ended.
RadioShack’s shambling remains were provided another jolt of life today when they were purchased by another business that plans to relaunch the once-great merchant as an online-focused brand name.
The shop’s remains were purchased by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brands from other faded retail giants also, including Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV states RadioShack’s website already has “strong existing sales and sales capacity,” and the company is “positive” it can even more raise awareness of the brand name internationally.
REV declares it’s effectively reversed other companies it’s introduced as online brands. The Wall Street Journal reported that Dressbarn more than doubled its revenue in between the very first and 2nd quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anyone aiming to grab tech essentials. For a long period of time, that suggested real radio parts, but ended up consisting of great deals of electronic toys (one Brink editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined greatly as online shopping got here, and the business declared insolvency two times in the past 5 years. RadioShack still accredits its name to third-party “licensed” stores and offers top quality products within some locations of HobbyTown, a crafts merchant– comparable to how you can still discover “Sharper Image” items at Kohl’s even though that seller shut its physical doors over a decade earlier. REV didn’t state whether those RadioShack licenses would stick around. Beats By Dre Studio Radioshack
REV says it will “soon relaunch” RadioShack’s site. 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 purchase overpriced HDMI cables and knockoff earphones.