The bright side is that since today RadioShack. Does Radioshack… has formally been bought by Retail Ecommerce Ventures (REV), providing the troubled company a brand-new lease on life. The drawback, 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 actually previously revamped the Web existence of other insolvent businesses such as Pier 1 Imports and Dressbarn.
While journalism release does not 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 further lockdowns in action to the continuing COVID-19 pandemic, it’s tough to disagree. There will be countless bored kids and grownups looking for something to do throughout the long winter season nights, and an electronic kit or more shipped to their door might be just the thing.
REV states they plan to relaunch the rather outdated RadioShack site just in time for the business’s 100th anniversary in 2021. Since this writing the site presently states that sales have actually been temporarily stopped to allow for stock restructuring, though it’s unclear if this is straight related to the buyout or not. Getting a precise count of just how much merchandise the company still has on hand after shuttering the majority of their physical locations in 2017 certainly sounds like something the new owners would wish to do.
We all know how that story ended.
RadioShack’s shambling remains were offered another jolt of life today when they were bought by another company that prepares to relaunch the once-great seller as an online-focused brand name.
The store’s remains were purchased by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brands from other faded retail giants too, including Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV states RadioShack’s site already has “strong existing sales and sales potential,” and the company is “confident” it can further raise awareness of the brand name globally.
REV declares it’s effectively turned around other business it’s released as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its income between the second and very first quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anyone aiming to grab tech fundamentals. For a long time, that suggested actual radio elements, however ended up including great deals of electronic toys (one Verge editor fondly remembers his Armatron) and eventually phones. Its fortunes declined significantly as online shopping got here, and the company declared insolvency two times in the past five years. RadioShack still certifies its name to third-party “licensed” stores and offers branded items within some areas of HobbyTown, a crafts merchant– comparable to how you can still discover “Sharper Image” items at Kohl’s despite the fact that that seller shut its physical doors over a decade earlier. REV didn’t say whether those RadioShack licenses would stick around. Does Radioshack
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 enough place to go when you want to buy expensive HDMI cable televisions and knockoff earphones.