The bright side is that since today RadioShack. Radioshack Anchorage… has officially been acquired by Retail Ecommerce Ventures (REV), offering the struggling business a brand-new lease on life. The disadvantage, at least for folks like us, is that there are no instant strategies to return the iconic electronics merchant to its brick-and-mortar roots. As the name implies, REV focuses on online retail, having actually formerly revamped the Internet existence of other bankrupt companies such as Pier 1 Imports and Dressbarn.
While journalism release does not outright prevent the possibility of new physical RadioShack locations, it’s clear that REV thinks the future of retail isn’t to be found in your regional shopping center. As the United States 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 searching for something to do during the long winter season nights, and an electronic kit or two delivered to their door might be simply the thing.
REV states they plan to relaunch the rather dated RadioShack website in the nick of time for the business’s 100th anniversary in 2021. Since this composing the website presently states that sales have actually been briefly stopped to allow for inventory restructuring, though it’s uncertain if this is straight related to the buyout or not. Getting a precise count of how much product the company still has on hand after shuttering most of their physical areas in 2017 definitely sounds like something the brand-new owners would want to do.
We all know how that story ended.
RadioShack’s shambling remains were offered another shock of life today when they were acquired by another business that plans to relaunch the once-great seller as an online-focused brand.
The shop’s remains were purchased 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 Goods, Dressbarn, and more. REV states RadioShack’s website currently has “strong existing sales and sales capacity,” and the business is “confident” it can further raise awareness of the brand name worldwide.
REV claims it’s effectively turned around other business it’s launched as online brands. The Wall Street Journal reported that Dressbarn more than doubled its profits 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 aiming to get tech fundamentals. For a long time, that meant real radio parts, but ended up consisting of great deals of electronic toys (one Edge editor fondly remembers his Armatron) and eventually phones. Its fortunes declined vastly as online shopping arrived, and the company filed for bankruptcy two times in the past five years. RadioShack still licenses its name to third-party “licensed” stores and sells top quality products within some areas of HobbyTown, a crafts retailer– comparable to how you can still discover “Sharper Image” products at Kohl’s even though that merchant shut its physical doors over a years back. REV didn’t state whether those RadioShack licenses would stay. Radioshack Anchorage
REV states it will “quickly relaunch” RadioShack’s website. So for those of you still sticking on to fond memories of the shop, there’ll be a familiar adequate place to go when you want to buy costly HDMI cable televisions and knockoff headphones.