Fortunately is that since today RadioShack. Can Radioshack Survive… has actually formally been acquired by Retail Ecommerce Ventures (REV), offering the troubled business a new lease on life. The disadvantage, at least for folks like us, is that there are no immediate strategies to return the renowned electronics merchant to its brick-and-mortar roots. As the name indicates, REV concentrates on online retail, having previously revamped the Web existence of other insolvent organizations such as Pier 1 Imports and Dressbarn.
While journalism release does not straight-out preclude 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 strip mall. As the US mulls further lockdowns in action to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be millions of bored kids and adults searching for something to do during the long winter season nights, and an electronic kit or more shipped to their door might be simply the important things.
REV says they plan to relaunch the rather outdated RadioShack site just in time for the company’s 100th anniversary in 2021. Since this writing the website presently says that sales have actually been briefly halted to enable stock restructuring, though it’s uncertain if this is directly related to the buyout or not. Getting a precise count of how much product the business still has on hand after shuttering the majority of their physical areas in 2017 definitely seems like something the brand-new owners would want to do.
We all know how that story ended.
RadioShack’s shambling remains were offered another jolt of life today when they were purchased by another company that prepares to relaunch the once-great seller as an online-focused brand.
The shop’s remains were bought by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brand names from other faded retail giants also, including Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV states RadioShack’s site already has “strong existing sales and sales potential,” and the business is “positive” it can even more raise awareness of the brand worldwide.
REV declares it’s effectively reversed other business it’s launched as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its income between the 2nd and very first quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anybody looking to grab tech basics. REV didn’t state whether those RadioShack licenses would stick around. Can Radioshack Survive
REV says it will “quickly relaunch” RadioShack’s site. So for those of you still clinging on to fond memories of the shop, there’ll be a familiar adequate location to go when you wish to buy expensive HDMI cable televisions and knockoff headphones.