The good news is that since today RadioShack. My Answer Online Radioshack… has actually formally been acquired by Retail Ecommerce Ventures (REV), giving the struggling business a new lease on life. The drawback, a minimum of for folks like us, is that there are no immediate plans to return the iconic electronics retailer to its brick-and-mortar roots. As the name suggests, REV specializes in online retail, having previously revamped the Web existence of other bankrupt organizations 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 discovered in your regional strip mall. As the United States mulls even more lockdowns in reaction to the continuing COVID-19 pandemic, it’s hard to disagree. There will be countless bored kids and grownups searching for something to do throughout the long winter nights, and an electronic kit or 2 delivered to their door might be just the important things.
REV states they prepare to relaunch the rather dated RadioShack site in the nick of time for the business’s 100th anniversary in 2021. Since this writing the website currently says that sales have been momentarily stopped to permit stock restructuring, though it’s unclear if this is directly related to the buyout or not. Getting an accurate count of just how much product the company still has on hand after shuttering most of their physical locations in 2017 certainly sounds like something the brand-new owners would wish to do.
Like the majority of you, we have fond memories of the Golden era of RadioShack, back prior to they thought selling televisions and phones was somehow a great idea. To their credit, they did try and revive their relationship with hackers and makers by asking the community what they ‘d want to see in their shops. However 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 store that stocks resistors, there’s a particular convenience in understanding that RadioShack books and kits 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 company that plans to relaunch the once-great seller 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 brand names from other faded retail giants also, including Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV states RadioShack’s site already has “strong existing sales and sales potential,” and the business is “positive” it can further raise awareness of the brand globally.
REV declares it’s effectively reversed other business it’s introduced as online brands. The Wall Street Journal reported that Dressbarn more than doubled its earnings between the first and second quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anybody aiming to grab tech essentials. For a very long time, that indicated real radio elements, but ended up consisting of great deals of electronic toys (one Verge editor fondly remembers his Armatron) and eventually phones. Its fortunes decreased greatly as online shopping showed up, and the company declared insolvency two times in the past 5 years. RadioShack still accredits its name to third-party “licensed” shops and sells branded items within some areas of HobbyTown, a crafts seller– comparable to how you can still discover “Sharper Image” products at Kohl’s despite the fact that that seller shut its physical doors over a decade ago. REV didn’t say whether those RadioShack licenses would stick around. My Answer Online Radioshack
REV says it will “soon relaunch” RadioShack’s website. For those of you still clinging on to fond memories of the store, there’ll be a familiar enough location to go when you desire to buy costly HDMI cable televisions and knockoff earphones.