The good news is that since today RadioShack. Radioshack Bozeman Mt… has actually formally been acquired by Retail Ecommerce Ventures (REV), providing the struggling business a new lease on life. The drawback, a minimum of for folks like us, is that there are no instant strategies to return the renowned electronic devices retailer to its brick-and-mortar roots. As the name suggests, REV focuses on online retail, having formerly revamped the Internet existence of other bankrupt organizations such as Pier 1 Imports and Dressbarn.
While the press release does not straight-out preclude the possibility of 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 further lockdowns in reaction to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be millions of bored kids and adults trying to find something to do throughout the long winter season nights, and an electronic kit or two shipped to their door might be simply the thing.
REV says they prepare 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 says that sales have been momentarily halted 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 product the business still has on hand after shuttering the majority of their physical locations in 2017 definitely sounds like something the new owners would wish to do.
Like the majority of you, we have fond memories of the Golden era of RadioShack, back prior to they believed offering tvs and phones was in some way a great idea. To their credit, they did attempt and rekindle their relationship with hackers and makers by asking the neighborhood what they ‘d want to see in their stores. We all know how that story ended. While it doesn’t appear like this news will get us any closer to having an area shop that stocks resistors, there’s a particular convenience in understanding that RadioShack books and sets will still be around for the next generation.
RadioShack’s shambling remains were given another shock of life today when they were purchased by another business that plans to relaunch the once-great seller as an online-focused brand.
The shop’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 as well, including Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV states RadioShack’s website currently has “strong existing sales and sales capacity,” and the company is “confident” it can even more raise awareness of the brand name internationally.
REV claims it’s effectively turned around other companies it’s released as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its revenue between the 2nd and first 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 basics. For a long time, that suggested real radio components, however wound up including lots of electronic toys (one Verge editor fondly remembers his Armatron) and eventually phones. Its fortunes decreased greatly as online shopping arrived, and the business filed for personal bankruptcy twice in the past 5 years. RadioShack still accredits its name to third-party “licensed” shops and sells top quality items within some locations of HobbyTown, a crafts seller– comparable to how you can still discover “Sharper Image” items at Kohl’s despite the fact that that merchant shut its physical doors over a years back. REV didn’t say whether those RadioShack licenses would remain. Radioshack Bozeman Mt
REV says it will “quickly relaunch” RadioShack’s website. For those of you still clinging on to fond memories of the shop, there’ll be a familiar sufficient location to go when you desire to buy pricey HDMI cables and knockoff headphones.