The bright side is that since today RadioShack. Ihome Radioshack… has actually officially been purchased by Retail Ecommerce Ventures (REV), offering the distressed business a brand-new lease on life. The drawback, a minimum of for folks like us, is that there are no instant strategies to return the iconic electronic devices seller to its brick-and-mortar roots. As the name indicates, REV concentrates on online retail, having actually formerly revamped the Web existence of other insolvent companies such as Pier 1 Imports and Dressbarn.
While journalism release doesn’t straight-out prevent the possibility of brand-new physical RadioShack areas, 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 even more lockdowns in reaction to the continuing COVID-19 pandemic, it’s tough to disagree. There will be millions of bored kids and grownups looking for something to do throughout the long winter nights, and an electronic kit or 2 shipped to their door might be just the important things.
REV says they plan to relaunch the rather outdated RadioShack website just in time for the business’s 100th anniversary in 2021. Since this writing the website presently states that sales have been momentarily stopped to enable stock restructuring, though it’s uncertain 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 areas in 2017 definitely sounds like something the brand-new owners would wish to do.
Like the majority of you, we have fond memories of the Golden Age of RadioShack, back before they believed offering phones and TVs was somehow an excellent idea. To their credit, they did attempt and revive their relationship with hackers and makers by asking the neighborhood what they ‘d want to see in their shops. But we all understand how that story ended. While it doesn’t look like this news will get us any closer to having a community store that stocks resistors, there’s a certain convenience in knowing that RadioShack packages and books will still be around for the next generation.
RadioShack’s shambling remains were provided another jolt of life today when they were acquired by another business that plans to relaunch the once-great merchant as an online-focused brand name.
The store’s remains were acquired by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brands from other faded retail giants also, including Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV says RadioShack’s website already has “strong existing sales and sales potential,” and the company is “positive” it can further raise awareness of the brand globally.
REV declares it’s successfully turned around other companies it’s launched as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its income between the 2nd and first quarter of 2020.
RadioShack was established in 1921 and became a retail staple in the ’80s and ’90s for anybody looking to get tech essentials. REV didn’t say whether those RadioShack licenses would stick around. Ihome Radioshack
REV states it will “soon relaunch” RadioShack’s website. For those of you still sticking on to fond memories of the shop, there’ll be a familiar adequate place to go when you desire to purchase pricey HDMI cables and knockoff headphones.