The good news is that since today RadioShack. Is Radioshack Open Online… has formally been bought by Retail Ecommerce Ventures (REV), giving the distressed company a brand-new lease on life. The drawback, a minimum of for folks like us, is that there are no instant plans to return the iconic electronic devices seller to its brick-and-mortar roots. As the name indicates, REV focuses on online retail, having formerly revamped the Internet existence of other bankrupt organizations such as Pier 1 Imports and Dressbarn.
While journalism release doesn’t straight-out prevent the possibility of brand-new physical RadioShack locations, it’s clear that REV believes the future of retail isn’t to be found in your regional strip mall. 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 adults trying to find something to do throughout the long winter season nights, and an electronic kit or more delivered to their door might be simply the thing.
REV says they prepare to relaunch the rather outdated RadioShack website in the nick of time for the company’s 100th anniversary in 2021. Since this composing the site presently states that sales have actually been momentarily halted to enable inventory restructuring, though it’s uncertain if this is directly related to the buyout or not. Getting an accurate count of how much merchandise the company still has on hand after shuttering most of their physical locations 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 shock of life today when they were acquired by another business that plans to relaunch the once-great retailer as an online-focused brand.
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 Item, Dressbarn, and more. REV says RadioShack’s site already has “strong existing sales and sales potential,” and the business is “confident” it can further raise awareness of the brand name internationally.
REV claims it’s successfully reversed other business it’s released as online brands. The Wall Street Journal reported that Dressbarn more than doubled its revenue in between the very first and second 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 fundamentals. REV didn’t state whether those RadioShack licenses would stick around. Is Radioshack Open Online
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 enough place to go when you want to buy overpriced HDMI cable televisions and knockoff headphones.