The good news is that since today RadioShack. Https://Www.Radioshack.Com/Products/Radioshack-digital-am-fm-pocket-radio?… has formally been acquired by Retail Ecommerce Ventures (REV), offering the distressed business a new lease on life. The disadvantage, at least for folks like us, is that there are no immediate strategies to return the renowned electronic devices seller to its brick-and-mortar roots. As the name indicates, REV focuses on online retail, having previously revamped the Web presence of other bankrupt businesses such as Pier 1 Imports and Dressbarn.
While the press release doesn’t straight-out preclude the possibility of brand-new physical RadioShack areas, it’s clear that REV thinks the future of retail isn’t to be found in your local strip mall. As the US mulls further lockdowns in response to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be millions of bored kids and adults trying to find something to do during the long winter nights, and an electronic set or 2 delivered to their door might be just the thing.
REV states they plan to relaunch the rather dated RadioShack website in the nick of time for the business’s 100th anniversary in 2021. Since this writing the site presently says that sales have been briefly 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 just how much product the company still has on hand after shuttering the majority of their physical locations in 2017 certainly seems like something the new owners would want to do.
We all understand how that story ended.
RadioShack’s shambling remains were provided another shock of life today when they were bought by another business that plans to relaunch the once-great seller 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 brand names from other faded retail giants as well, consisting of Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV says RadioShack’s site currently has “strong existing sales and sales capacity,” and the company is “positive” it can further raise awareness of the brand name globally.
REV declares it’s effectively turned around other companies it’s introduced as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its profits in between the first and second quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anyone wanting to get tech fundamentals. For a long period of time, that suggested actual radio parts, but wound up including lots of electronic toys (one Verge editor fondly remembers his Armatron) and ultimately phones. Its fortunes decreased greatly as online shopping arrived, and the company declared personal bankruptcy twice in the past 5 years. RadioShack still certifies its name to third-party “authorized” stores and offers branded items within some locations of HobbyTown, a crafts merchant– comparable to how you can still find “Sharper Image” products at Kohl’s despite the fact that that merchant shut its physical doors over a decade back. REV didn’t state whether those RadioShack licenses would stay. Https://Www.Radioshack.Com/Products/Radioshack-digital-am-fm-pocket-radio?
REV says it will “quickly relaunch” RadioShack’s website. For those of you still sticking on to fond memories of the shop, there’ll be a familiar enough location to go when you desire to purchase pricey HDMI cable televisions and knockoff headphones.