The bright side is that as of today RadioShack. Go To Radioshack Com… has officially been purchased by Retail Ecommerce Ventures (REV), providing 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 iconic electronic devices seller to its brick-and-mortar roots. As the name implies, REV specializes in online retail, having formerly revamped the Web existence of other insolvent businesses such as Pier 1 Imports and Dressbarn.
While the press release does not outright prevent the possibility of brand-new physical RadioShack areas, 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 even more lockdowns in reaction to the continuing COVID-19 pandemic, it’s hard to disagree. There will be millions of bored kids and adults trying to find something to do throughout the long winter season nights, and an electronic set or two shipped to their door might be just the important things.
REV says they prepare to relaunch the rather outdated RadioShack site just in time for the company’s 100th anniversary in 2021. As of this writing the website currently states that sales have been temporarily halted to enable stock restructuring, though it’s unclear if this is straight related to the buyout or not. Getting a precise count of just how much product the business still has on hand after shuttering most of their physical locations in 2017 definitely seems like something the brand-new owners would want to do.
Like most of you, we have fond memories of the Golden era of RadioShack, back before they believed offering tvs and phones was somehow an excellent idea. To their credit, they did attempt and rekindle their relationship with hackers and makers by asking the neighborhood what they ‘d wish to see in their shops. However all of us know how that story ended. While it does not look like this news will get us any closer to having a neighborhood store that stocks resistors, there’s a certain convenience in understanding that RadioShack kits and books will still be around for the next generation.
RadioShack’s shambling remains were provided another shock of life today when they were purchased by another company that prepares to relaunch the once-great retailer as an online-focused brand name.
The shop’s remains were bought by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brands from other faded retail giants too, consisting of Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV states RadioShack’s site currently has “strong existing sales and sales capacity,” and the company is “confident” it can even more raise awareness of the brand worldwide.
REV declares it’s successfully reversed other business it’s launched as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its earnings in between the first and second quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anybody aiming to get tech essentials. For a very long time, that meant real radio parts, but ended up including great deals of electronic toys (one Edge editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined vastly as online shopping arrived, and the business declared bankruptcy twice in the past 5 years. RadioShack still certifies its name to third-party “licensed” stores and sells branded products within some places of HobbyTown, a crafts seller– similar to how you can still discover “Sharper Image” products at Kohl’s although that merchant shut its physical doors over a decade back. REV didn’t say whether those RadioShack licenses would stay. Go To Radioshack Com
REV states it will “soon relaunch” RadioShack’s website. For those of you still clinging on to fond memories of the store, there’ll be a familiar adequate location to go when you want to purchase expensive HDMI cable televisions and knockoff headphones.