The good news is that as of today RadioShack. Google Chromecast Radioshack… has actually officially been bought by Retail Ecommerce Ventures (REV), giving the troubled company a brand-new lease on life. The downside, at least for folks like us, is that there are no instant plans to return the iconic electronics merchant to its brick-and-mortar roots. As the name indicates, REV specializes in 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 prevent the possibility of brand-new physical RadioShack places, it’s clear that REV thinks the future of retail isn’t to be discovered in your regional shopping center. As the US mulls further lockdowns in response to the continuing COVID-19 pandemic, it’s hard to disagree. There will be countless bored kids and adults searching for something to do throughout the long winter season nights, and an electronic set or more shipped to their door might be just the thing.
REV says they plan to relaunch the rather outdated RadioShack site in the nick of time for the business’s 100th anniversary in 2021. Since this composing the site currently says that sales have been momentarily halted to allow for inventory restructuring, though it’s uncertain if this is straight related to the buyout or not. Getting an accurate count of how much product the company still has on hand after shuttering most 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 jolt of life today when they were acquired by another company that prepares to relaunch the once-great merchant as an online-focused brand name.
The store’s remains were purchased by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brand names from other faded retail giants also, consisting of Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV says RadioShack’s site already has “strong existing sales and sales capacity,” and the company is “positive” it can further raise awareness of the brand worldwide.
REV declares it’s successfully reversed other business it’s released as online brands. The Wall Street Journal reported that Dressbarn more than doubled its profits between the very first and 2nd quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anybody aiming to get tech basics. For a long time, that meant real radio elements, however wound up including great deals of electronic toys (one Verge editor fondly remembers his Armatron) and ultimately phones. Its fortunes decreased vastly as online shopping arrived, and the company declared bankruptcy two times in the past five years. RadioShack still licenses its name to third-party “licensed” stores and offers branded items within some locations of HobbyTown, a crafts retailer– comparable to how you can still find “Sharper Image” items at Kohl’s although that retailer shut its physical doors over a years earlier. REV didn’t state whether those RadioShack licenses would stay. Google Chromecast Radioshack
REV states it will “quickly relaunch” RadioShack’s site. For those of you still clinging on to fond memories of the shop, there’ll be a familiar sufficient location to go when you desire to purchase costly HDMI cables and knockoff headphones.