The good news is that since today RadioShack. Dx-392 Radioshack… has formally been acquired by Retail Ecommerce Ventures (REV), providing the distressed business a new lease on life. The downside, a minimum of for folks like us, is that there are no instant plans to return the iconic electronic devices merchant to its brick-and-mortar roots. As the name indicates, REV specializes in online retail, having actually previously revamped the Web presence of other bankrupt companies such as Pier 1 Imports and Dressbarn.
While the press release does not straight-out preclude 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 shopping center. As the United States mulls even more lockdowns in action to the continuing COVID-19 pandemic, it’s tough to disagree. There will be millions of bored kids and adults searching for something to do during the long winter nights, and an electronic package or 2 delivered to their door might be simply the thing.
REV says they prepare to relaunch the rather dated RadioShack website in the nick of time for the company’s 100th anniversary in 2021. Since this composing the site currently states that sales have been momentarily halted to allow for inventory 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 places in 2017 definitely sounds 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 business that prepares to relaunch the once-great merchant as an online-focused brand.
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 Item, Dressbarn, and more. REV says RadioShack’s website already has “strong existing sales and sales capacity,” and the business is “confident” it can further raise awareness of the brand globally.
REV declares it’s effectively reversed other companies it’s launched as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its revenue 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 looking to get tech fundamentals. For a long time, that suggested actual radio components, however wound up including lots of electronic toys (one Edge editor fondly remembers his Armatron) and eventually phones. Its fortunes decreased significantly as online shopping got here, and the company declared personal bankruptcy twice in the past five years. RadioShack still accredits its name to third-party “licensed” shops and sells branded products within some places of HobbyTown, a crafts seller– similar to how you can still find “Sharper Image” products at Kohl’s despite the fact that that retailer shut its physical doors over a decade back. REV didn’t state whether those RadioShack licenses would stay. Dx-392 Radioshack
REV says it will “soon relaunch” RadioShack’s site. For those of you still sticking on to fond memories of the shop, there’ll be a familiar enough place to go when you want to buy expensive HDMI cable televisions and knockoff headphones.