The bright side is that since today RadioShack. Radioshack Bocina Bose… 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 strategies to return the iconic electronic devices retailer to its brick-and-mortar roots. As the name indicates, REV concentrates on online retail, having actually formerly revamped the Internet presence of other bankrupt companies such as Pier 1 Imports and Dressbarn.
While the press release doesn’t outright preclude the possibility of new physical RadioShack locations, it’s clear that REV thinks the future of retail isn’t to be found in your local strip mall. As the United States mulls even more lockdowns in action to the continuing COVID-19 pandemic, it’s hard to disagree. There will be millions of bored kids and adults searching for something to do throughout the long winter nights, and an electronic kit or 2 delivered to their door might be just the thing.
REV states they plan to relaunch the rather outdated RadioShack site in the nick of time for the company’s 100th anniversary in 2021. As of this writing the site presently states that sales have been briefly stopped to allow for inventory restructuring, though it’s uncertain if this is directly related to the buyout or not. Getting a precise count of how much merchandise the business still has on hand after shuttering the majority of their physical locations in 2017 certainly sounds like something the brand-new owners would wish to do.
We all know how that story ended.
RadioShack’s shambling remains were provided another jolt of life today when they were bought by another company that plans to relaunch the once-great seller as an online-focused brand name.
The store’s remains were acquired by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brands from other faded retail giants also, consisting of Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV states RadioShack’s website already has “strong existing sales and sales capacity,” and the business is “positive” it can even more raise awareness of the brand name globally.
REV declares it’s effectively turned around other companies it’s introduced as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its revenue between the very first and second quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anyone looking to get tech basics. For a very long time, that suggested actual radio elements, however ended up consisting of great deals of electronic toys (one Verge editor fondly remembers his Armatron) and eventually phones. Its fortunes declined significantly as online shopping showed up, and the business applied for insolvency twice in the past 5 years. RadioShack still accredits its name to third-party “licensed” shops and offers top quality products within some locations of HobbyTown, a crafts retailer– similar to how you can still discover “Sharper Image” products at Kohl’s even though that seller shut its physical doors over a years back. REV didn’t say whether those RadioShack licenses would remain. Radioshack Bocina Bose
REV says it will “soon relaunch” RadioShack’s website. For those of you still sticking on to fond memories of the shop, there’ll be a familiar enough location to go when you desire to purchase costly HDMI cable televisions and knockoff headphones.