Fortunately is that as of today RadioShack. Radioshack Anti Static Mat… has actually officially been acquired by Retail Ecommerce Ventures (REV), providing the struggling business a brand-new lease on life. The downside, at least for folks like us, is that there are no instant strategies to return the renowned electronic devices merchant to its brick-and-mortar roots. As the name indicates, REV specializes in online retail, having actually previously revamped the Web existence of other insolvent companies such as Pier 1 Imports and Dressbarn.
While journalism release doesn’t outright preclude the possibility of new physical RadioShack areas, it’s clear that REV believes the future of retail isn’t to be discovered in your regional strip mall. 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 adults trying to find something to do during the long winter season nights, and an electronic set or 2 delivered to their door might be simply the thing.
REV says they prepare to relaunch the rather outdated RadioShack website just in time for the company’s 100th anniversary in 2021. As of this writing the website presently states that sales have actually been temporarily stopped to permit inventory restructuring, though it’s unclear if this is directly related to the buyout or not. Getting a precise count of how much product the company still has on hand after shuttering the majority of their physical locations 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 purchased by another company that plans to relaunch the once-great retailer as an online-focused brand name.
The store’s remains were acquired by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brands from other faded retail giants too, consisting of Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV says RadioShack’s site currently has “strong existing sales and sales capacity,” and the company is “confident” it can further raise awareness of the brand worldwide.
REV declares it’s successfully reversed other business it’s launched as online brands. The Wall Street Journal reported that Dressbarn more than doubled its income in between the 2nd and first quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anyone aiming to get tech essentials. For a long time, that suggested actual radio components, however ended up consisting of great deals of electronic toys (one Edge editor fondly remembers his Armatron) and eventually phones. Its fortunes decreased greatly as online shopping arrived, and the company applied for personal bankruptcy twice in the past 5 years. RadioShack still licenses its name to third-party “authorized” stores and sells top quality items within some locations of HobbyTown, a crafts seller– comparable to how you can still discover “Sharper Image” products at Kohl’s even though that retailer shut its physical doors over a years back. REV didn’t state whether those RadioShack licenses would stay. Radioshack Anti Static Mat
REV states it will “quickly relaunch” RadioShack’s site. For those of you still clinging on to fond memories of the store, there’ll be a familiar adequate place to go when you want to purchase pricey HDMI cables and knockoff headphones.