The bright side is that since today RadioShack. Michael Kowal Radioshack Corporation… has formally been acquired by Retail Ecommerce Ventures (REV), offering the struggling company a new lease on life. The disadvantage, a minimum of for folks like us, is that there are no instant strategies to return the renowned electronics seller to its brick-and-mortar roots. As the name indicates, REV focuses on online retail, having actually formerly revamped the Web existence of other insolvent services such as Pier 1 Imports and Dressbarn.
While the press release doesn’t straight-out preclude the possibility of new physical RadioShack locations, it’s clear that REV thinks 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 countless bored kids and grownups trying to find something to do throughout the long winter season nights, and an electronic set or 2 delivered to their door might be just the thing.
REV states they prepare to relaunch the rather outdated RadioShack site just in time for the business’s 100th anniversary in 2021. As of this composing the site currently says that sales have actually been temporarily halted to enable inventory restructuring, though it’s unclear if this is straight related to the buyout or not. Getting an accurate count of how much merchandise the company still has on hand after shuttering the majority of their physical areas in 2017 certainly seems like something the brand-new owners would wish to do.
Like most of you, we have fond memories of the Golden Age of RadioShack, back before they thought selling televisions and phones was somehow an excellent idea. To their credit, they did try and revive their relationship with hackers and makers by asking the community what they ‘d wish to see in their stores. However we all understand how that story ended. While it doesn’t appear like this news will get us any closer to having a community shop that stocks resistors, there’s a certain comfort in knowing that RadioShack books and packages will still be around for the next generation.
RadioShack’s shambling remains were given another jolt of life today when they were bought by another company that prepares to relaunch the once-great merchant as an online-focused brand name.
The store’s remains were acquired by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brand names from other faded retail giants too, consisting of Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV states RadioShack’s website currently has “strong existing sales and sales potential,” and the company is “positive” it can further raise awareness of the brand name worldwide.
REV claims it’s effectively turned around other companies it’s launched as online brands. The Wall Street Journal reported that Dressbarn more than doubled its revenue in between the second and very first quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anyone wanting to get tech basics. For a long time, that meant real radio parts, but wound up consisting of lots of electronic toys (one Brink editor fondly remembers his Armatron) and ultimately phones. Its fortunes decreased greatly as online shopping arrived, and the business declared bankruptcy twice in the past 5 years. RadioShack still licenses its name to third-party “authorized” shops and sells branded products within some places of HobbyTown, a crafts retailer– similar to how you can still find “Sharper Image” products at Kohl’s although that seller shut its physical doors over a decade back. REV didn’t say whether those RadioShack licenses would stick around. Michael Kowal Radioshack Corporation
REV says it will “soon relaunch” RadioShack’s site. For those of you still clinging on to fond memories of the shop, there’ll be a familiar sufficient place to go when you desire to purchase pricey HDMI cable televisions and knockoff earphones.