The good news is that as of today RadioShack. Beats Earbuds Radioshack… has actually officially been bought by Retail Ecommerce Ventures (REV), providing the struggling company a new lease on life. The drawback, a minimum of for folks like us, is that there are no immediate plans to return the iconic electronics seller to its brick-and-mortar roots. As the name implies, REV concentrates on online retail, having actually previously revamped the Internet existence of other bankrupt companies such as Pier 1 Imports and Dressbarn.
While the press release doesn’t straight-out preclude the possibility of new physical RadioShack locations, it’s clear that REV believes the future of retail isn’t to be found in your local strip mall. As the United States mulls even more lockdowns in action 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 season nights, and an electronic set or two shipped to their door might be simply the thing.
REV states they plan to relaunch the rather dated RadioShack website just in time for the company’s 100th anniversary in 2021. As of this composing the website presently states that sales have been momentarily halted to enable inventory restructuring, though it’s uncertain if this is straight related to the buyout or not. Getting an accurate count of just how much product the business still has on hand after shuttering the majority of their physical areas in 2017 certainly sounds like something the new owners would want to do.
We all understand how that story ended.
RadioShack’s shambling remains were given another jolt of life today when they were bought by another business that plans to relaunch the once-great merchant as an online-focused brand.
The store’s remains were acquired by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brand names from other faded retail giants too, consisting of Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV says RadioShack’s website already has “strong existing sales and sales capacity,” and the business is “confident” it can even more raise awareness of the brand name internationally.
REV declares it’s successfully turned around other business it’s launched as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its profits in between the 2nd and very first quarter of 2020.
RadioShack was established in 1921 and ended up being a retail staple in the ’80s and ’90s for anybody looking to get tech essentials. REV didn’t state whether those RadioShack licenses would stick around. Beats Earbuds Radioshack
REV says it will “quickly relaunch” RadioShack’s website. So for those of you still sticking on to fond memories of the store, there’ll be a familiar adequate place to go when you want to purchase costly HDMI cable televisions and knockoff headphones.