The bright side is that since today RadioShack. Does Radioshack Unlock Phones… has officially been bought by Retail Ecommerce Ventures (REV), offering the struggling 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 merchant to its brick-and-mortar roots. As the name indicates, REV specializes in online retail, having formerly revamped the Web presence of other insolvent organizations such as Pier 1 Imports and Dressbarn.
While the press release does not outright preclude the possibility of new physical RadioShack places, it’s clear that REV thinks the future of retail isn’t to be discovered in your regional strip mall. As the United States mulls even more lockdowns in response to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be countless bored kids and grownups looking for something to do throughout the long winter season nights, and an electronic set or two shipped to their door might be simply the important things.
REV says they prepare to relaunch the rather outdated RadioShack website in the nick of time for the company’s 100th anniversary in 2021. As of this composing the site presently says that sales have been briefly stopped to enable inventory restructuring, though it’s unclear if this is directly related to the buyout or not. Getting a precise count of just how much product the company still has on hand after shuttering the majority of their physical areas in 2017 certainly seems like something the new owners would want to do.
We all know how that story ended.
RadioShack’s shambling remains were offered another shock of life today when they were acquired by another company that prepares to relaunch the once-great seller as an online-focused brand.
The shop’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, including Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV says RadioShack’s website already has “strong existing sales and sales capacity,” and the company is “confident” it can even more raise awareness of the brand internationally.
REV claims it’s effectively turned around other business it’s launched as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its earnings between the very first and second quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anybody wanting to get tech fundamentals. For a long period of time, that meant actual radio components, however ended up consisting of lots of electronic toys (one Verge editor fondly remembers his Armatron) and ultimately phones. Its fortunes decreased significantly as online shopping arrived, and the business applied for insolvency two times in the past five years. RadioShack still accredits its name to third-party “licensed” stores and offers branded products within some areas of HobbyTown, a crafts retailer– comparable to how you can still discover “Sharper Image” items at Kohl’s even though that retailer shut its physical doors over a decade back. REV didn’t state whether those RadioShack licenses would stay. Does Radioshack Unlock Phones
REV states it will “soon 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 wish to buy overpriced HDMI cable televisions and knockoff earphones.