The good news is that as of today RadioShack. Opened Radioshack In Lauderdale Lakes… has actually formally been bought by Retail Ecommerce Ventures (REV), giving the troubled business a brand-new lease on life. The disadvantage, at least for folks like us, is that there are no instant plans to return the iconic electronics seller to its brick-and-mortar roots. As the name implies, REV concentrates on online retail, having actually previously revamped the Web presence of other insolvent companies such as Pier 1 Imports and Dressbarn.
While journalism release doesn’t straight-out preclude the possibility of new physical RadioShack places, it’s clear that REV believes the future of retail isn’t to be found in your regional shopping center. As the US mulls further lockdowns in response to the continuing COVID-19 pandemic, it’s tough to disagree. There will be millions of bored kids and grownups trying to find something to do during the long winter season nights, and an electronic package or two shipped to their door might be just the important things.
REV says they prepare to relaunch the rather dated RadioShack website just in time for the company’s 100th anniversary in 2021. Since this writing the site currently states that sales have actually been momentarily stopped to allow for inventory restructuring, though it’s unclear if this is straight related to the buyout or not. Getting a precise count of how much product the business still has on hand after shuttering the majority of their physical places in 2017 definitely sounds like something the new owners would want to do.
Like the majority of you, we have fond memories of the Golden Age of RadioShack, back before they believed offering televisions and phones was somehow a great concept. To their credit, they did attempt and rekindle their relationship with hackers and makers by asking the neighborhood what they ‘d wish 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 an area store that stocks resistors, there’s a particular comfort in understanding that RadioShack books and sets will still be around for the next generation.
RadioShack’s shambling remains were offered another jolt of life today when they were purchased by another business that plans to relaunch the once-great seller as an online-focused brand name.
The shop’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 as well, including Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV states RadioShack’s site already has “strong existing sales and sales capacity,” and the company is “confident” it can even more raise awareness of the brand name globally.
REV claims it’s successfully reversed other business it’s launched as online brands. The Wall Street Journal reported that Dressbarn more than doubled its profits in between the very first and 2nd quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anyone seeking to get tech essentials. For a long time, that indicated real radio parts, but ended up consisting of lots of electronic toys (one Edge editor fondly remembers his Armatron) and ultimately phones. Its fortunes decreased significantly as online shopping arrived, and the business applied for personal bankruptcy two times in the past 5 years. RadioShack still licenses its name to third-party “authorized” stores and sells top quality products within some places of HobbyTown, a crafts seller– comparable to how you can still discover “Sharper Image” products at Kohl’s although that seller shut its physical doors over a years earlier. REV didn’t state whether those RadioShack licenses would stick around. Opened Radioshack In Lauderdale Lakes
REV says it will “soon relaunch” RadioShack’s site. So for those of you still clinging on to fond memories of the store, there’ll be a familiar sufficient place to go when you wish to purchase costly HDMI cable televisions and knockoff headphones.