The good news is that since today RadioShack. Blue Led Site Radioshack.Com… has formally been acquired 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 strategies to return the iconic electronics seller to its brick-and-mortar roots. As the name indicates, REV focuses on online retail, having actually previously revamped the Web existence of other insolvent companies such as Pier 1 Imports and Dressbarn.
While the press release doesn’t straight-out prevent the possibility of brand-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 action to the continuing COVID-19 pandemic, it’s hard to disagree. There will be countless bored kids and grownups trying to find something to do during the long winter season nights, and an electronic set or two delivered to their door might be just the thing.
REV states they prepare to relaunch the rather outdated RadioShack site in the nick of time for the company’s 100th anniversary in 2021. Since this composing the website presently states that sales have been momentarily stopped to enable stock restructuring, though it’s unclear 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 places in 2017 definitely sounds like something the brand-new owners would wish to do.
We all understand how that story ended.
RadioShack’s shambling remains were provided another shock of life today when they were bought by another business that prepares to relaunch the once-great seller 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 brand names from other faded retail giants too, consisting of Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV states RadioShack’s site already has “strong existing sales and sales potential,” and the company is “positive” it can further raise awareness of the brand internationally.
REV declares it’s effectively turned around other companies it’s released as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its revenue in between the 2nd 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 get tech basics. For a long time, that indicated actual radio components, but ended up including great deals of electronic toys (one Edge editor fondly remembers his Armatron) and eventually phones. Its fortunes declined significantly as online shopping got here, and the business applied for personal bankruptcy two times in the past five years. RadioShack still licenses its name to third-party “authorized” stores and sells branded items within some places of HobbyTown, a crafts seller– comparable to how you can still discover “Sharper Image” products at Kohl’s despite the fact that that merchant shut its physical doors over a years earlier. REV didn’t say whether those RadioShack licenses would stick around. Blue Led Site Radioshack.Com
REV states it will “quickly relaunch” RadioShack’s site. So for those of you still sticking on to fond memories of the store, there’ll be a familiar sufficient location to go when you wish to purchase costly HDMI cable televisions and knockoff earphones.