Fortunately is that as of today RadioShack. Hulu.com/start/radioshack… has officially been purchased by Retail Ecommerce Ventures (REV), giving the struggling business 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 iconic electronics retailer to its brick-and-mortar roots. As the name suggests, REV specializes in online retail, having formerly revamped the Internet presence of other bankrupt services such as Pier 1 Imports and Dressbarn.
While journalism release does not straight-out prevent the possibility of new physical RadioShack locations, it’s clear that REV believes the future of retail isn’t to be discovered in your local shopping center. As the United States mulls further lockdowns in reaction to the continuing COVID-19 pandemic, it’s hard to disagree. There will be millions of bored kids and grownups searching for something to do during the long winter season nights, and an electronic package or two shipped to their door might be just the thing.
REV states they prepare to relaunch the rather outdated RadioShack site in the nick of time for the company’s 100th anniversary in 2021. As of this writing the website currently states that sales have been briefly stopped to enable stock restructuring, though it’s uncertain if this is straight related to the buyout or not. Getting a precise count of how much product 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.
Like the majority of you, we have fond memories of the Golden era of RadioShack, back before they thought offering televisions and phones was in some way a good concept. To their credit, they did attempt and revive their relationship with hackers and makers by asking the community what they ‘d want to see in their stores. But all of us know how that story ended. While it doesn’t appear like this news will get us any closer to having a neighborhood shop that stocks resistors, there’s a particular comfort in understanding that RadioShack kits and books will still be around for the next generation.
RadioShack’s shambling remains were given another shock of life today when they were acquired by another business that prepares to relaunch the once-great seller as an online-focused brand.
The shop’s remains were purchased by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brands from other faded retail giants as well, consisting of Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV states RadioShack’s site currently has “strong existing sales and sales potential,” and the business is “confident” it can further raise awareness of the brand name internationally.
REV declares it’s successfully reversed other companies it’s released as online brands. The Wall Street Journal reported that Dressbarn more than doubled its revenue in between the second and first quarter of 2020.
RadioShack was established in 1921 and ended up being a retail staple in the ’80s and ’90s for anyone looking to get tech basics. REV didn’t state whether those RadioShack licenses would stick around. Hulu.com/start/radioshack
REV states it will “quickly relaunch” RadioShack’s site. For those of you still clinging on to fond memories of the store, there’ll be a familiar sufficient place to go when you want to buy costly HDMI cable televisions and knockoff headphones.