Fortunately is that since today RadioShack. Radioshack 2770136… has officially been acquired by Retail Ecommerce Ventures (REV), providing the troubled business a brand-new lease on life. The disadvantage, at least for folks like us, is that there are no immediate strategies to return the iconic electronics merchant to its brick-and-mortar roots. As the name indicates, REV concentrates on online retail, having actually formerly revamped the Web presence of other insolvent companies such as Pier 1 Imports and Dressbarn.
While journalism release does not outright prevent the possibility of new physical RadioShack areas, it’s clear that REV believes the future of retail isn’t to be found in your local strip mall. As the United States mulls further lockdowns in response to the continuing COVID-19 pandemic, it’s hard 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 kit or 2 delivered to their door might be just the important things.
REV states they prepare to relaunch the rather outdated RadioShack site just in time for the business’s 100th anniversary in 2021.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 website presently says that sales have been momentarily halted to permit inventory restructuring, though it’s unclear if this is straight 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 areas 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 era of RadioShack, back before they thought offering televisions and phones was in some way a good idea. To their credit, they did attempt and revive their relationship with hackers and makers by asking the neighborhood what they ‘d wish to see in their shops. However we all understand how that story ended. While it doesn’t look like this news will get us any closer to having an area shop that stocks resistors, there’s a specific comfort in knowing that RadioShack sets and books 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 plans to relaunch the once-great retailer as an online-focused brand name.
The store’s remains were bought by Retail Ecommerce Ventures (REV), a startup 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 says RadioShack’s website already has “strong existing sales and sales capacity,” and the business is “positive” it can further raise awareness of the brand globally.
REV declares it’s successfully reversed other business it’s released as online brands. The Wall Street Journal reported that Dressbarn more than doubled its profits between the first and second quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anyone looking to get tech fundamentals. For a long period of time, that indicated actual radio components, however wound up including lots of electronic toys (one Edge editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined vastly as online shopping arrived, and the business declared bankruptcy twice in the past five years. RadioShack still certifies its name to third-party “licensed” shops and offers top quality items within some areas of HobbyTown, a crafts seller– similar to how you can still discover “Sharper Image” items at Kohl’s despite the fact that that merchant shut its physical doors over a decade back. REV didn’t say whether those RadioShack licenses would stick around. Radioshack 2770136
REV says it will “soon relaunch” RadioShack’s website. So for those of you still sticking on to fond memories of the store, there’ll be a familiar enough location to go when you wish to purchase overpriced HDMI cables and knockoff earphones.