Fortunately is that since today RadioShack. Radioshack 6-foot 1/4 To 1/8 Shield Mono Plug Cable… has officially been acquired by Retail Ecommerce Ventures (REV), offering the struggling company a new lease on life. The downside, at least for folks like us, is that there are no immediate strategies to return the iconic electronic devices retailer to its brick-and-mortar roots. As the name suggests, REV concentrates on online retail, having actually previously revamped the Web existence of other insolvent organizations such as Pier 1 Imports and Dressbarn.
While the press release doesn’t straight-out prevent the possibility of brand-new physical RadioShack places, 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 even more 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 nights, and an electronic kit or more delivered to their door might be just the thing.
REV says 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 presently says that sales have been momentarily halted to allow for inventory restructuring, though it’s uncertain if this is straight related to the buyout or not. Getting an accurate count of just how much product the business still has on hand after shuttering most of their physical locations in 2017 definitely seems like something the brand-new owners would want to do.
Like the majority of you, we have fond memories of the Golden era of RadioShack, back prior to they thought offering televisions and phones was in some way an excellent concept. 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 stores. But all of us understand how that story ended. While it doesn’t look like this news will get us any closer to having a neighborhood store that stocks resistors, there’s a specific convenience in knowing that RadioShack books and sets 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 business that plans to relaunch the once-great seller as an online-focused brand name.
The store’s remains were bought by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brands from other faded retail giants also, consisting of Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV states RadioShack’s site already has “strong existing sales and sales capacity,” and the business is “confident” it can even more raise awareness of the brand name worldwide.
REV claims it’s successfully turned around other business it’s launched as online brands. The Wall Street Journal reported that Dressbarn more than doubled its income in between the first and second quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anybody aiming to get tech essentials. For a long period of time, that meant actual radio parts, but wound up including lots of electronic toys (one Brink editor fondly remembers his Armatron) and ultimately phones. Its fortunes decreased significantly as online shopping arrived, and the business filed for insolvency twice in the past 5 years. RadioShack still accredits its name to third-party “authorized” shops and sells branded products within some places of HobbyTown, a crafts merchant– comparable to how you can still discover “Sharper Image” items at Kohl’s despite the fact that that retailer shut its physical doors over a decade earlier. REV didn’t state whether those RadioShack licenses would stay. Radioshack 6-foot 1/4 To 1/8 Shield Mono Plug Cable
REV says it will “soon relaunch” RadioShack’s site. 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 expensive HDMI cables and knockoff earphones.