The bright side is that since today RadioShack. Netgear Radioshack… has actually officially been purchased by Retail Ecommerce Ventures (REV), giving the struggling company a brand-new lease on life. The drawback, at least for folks like us, is that there are no instant strategies to return the iconic electronics retailer to its brick-and-mortar roots. As the name suggests, REV focuses on online retail, having formerly revamped the Internet presence of other bankrupt companies such as Pier 1 Imports and Dressbarn.
While the press release does not outright preclude the possibility of brand-new physical RadioShack places, it’s clear that REV thinks the future of retail isn’t to be found in your local shopping center. As the US mulls further lockdowns in reaction to the continuing COVID-19 pandemic, it’s hard to disagree. There will be countless bored kids and adults looking for something to do during the long winter season nights, and an electronic kit or 2 delivered to their door might be just the thing.
REV states they plan to relaunch the rather dated RadioShack website just in time for the business’s 100th anniversary in 2021. As of this writing the site currently says that sales have been momentarily stopped to allow for stock restructuring, though it’s uncertain if this is directly related to the buyout or not. Getting a precise count of just how much product the company still has on hand after shuttering most of their physical areas in 2017 certainly sounds like something the new owners would wish to do.
Like most of you, we have fond memories of the Golden Age of RadioShack, back before they believed selling televisions and phones was in some way a great 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 stores. We all understand how that story ended. While it doesn’t look like this news will get us any closer to having a neighborhood shop that stocks resistors, there’s a certain comfort in understanding that RadioShack books and kits will still be around for the next generation.
RadioShack’s shambling remains were provided another shock of life today when they were purchased by another company that prepares to relaunch the once-great merchant as an online-focused brand.
The store’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 too, including Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV states RadioShack’s site already has “strong existing sales and sales potential,” and the company is “positive” it can even more raise awareness of the brand globally.
REV claims it’s successfully turned around other companies it’s released as online brands. The Wall Street Journal reported that Dressbarn more than doubled its profits in between the first and second quarter of 2020.
RadioShack was established in 1921 and ended up being a retail staple in the ’80s and ’90s for anybody looking to grab tech fundamentals. REV didn’t state whether those RadioShack licenses would stick around. Netgear Radioshack
REV states it will “soon relaunch” RadioShack’s website. For those of you still clinging on to fond memories of the shop, there’ll be a familiar sufficient location to go when you want to purchase expensive HDMI cables and knockoff headphones.