The good news is that as of today RadioShack. Best Buy Price Match Radioshack… has actually officially been bought by Retail Ecommerce Ventures (REV), providing the troubled company a new lease on life. The drawback, at least for folks like us, is that there are no instant plans to return the iconic electronic devices seller to its brick-and-mortar roots. As the name suggests, REV concentrates on online retail, having actually formerly revamped the Web existence of other bankrupt businesses such as Pier 1 Imports and Dressbarn.
While journalism release doesn’t outright preclude the possibility of new physical RadioShack places, 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 further lockdowns in response to the continuing COVID-19 pandemic, it’s hard to disagree. There will be countless bored kids and grownups searching for something to do during the long winter nights, and an electronic package or 2 shipped to their door might be simply the thing.
REV states they prepare 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 been briefly halted to permit 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 locations 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 provided 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 name.
The shop’s remains were acquired by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brands from other faded retail giants as well, consisting of Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV states RadioShack’s website currently has “strong existing sales and sales capacity,” and the business is “confident” it can further raise awareness of the brand name internationally.
REV claims it’s effectively turned around other companies it’s released as online brands. The Wall Street Journal reported that Dressbarn more than doubled its profits in between the very first and 2nd quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anyone looking to grab tech fundamentals. For a long time, that indicated real radio parts, but ended up consisting of great deals of electronic toys (one Verge editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined significantly as online shopping arrived, and the business declared insolvency two times in the past five years. RadioShack still licenses its name to third-party “authorized” shops and offers branded products within some areas of HobbyTown, a crafts seller– similar to how you can still find “Sharper Image” products at Kohl’s even though that retailer shut its physical doors over a decade earlier. REV didn’t say whether those RadioShack licenses would stick around. Best Buy Price Match Radioshack
REV says it will “quickly relaunch” RadioShack’s website. For those of you still clinging on to fond memories of the store, there’ll be a familiar adequate location to go when you want to purchase expensive HDMI cables and knockoff headphones.