The good news is that as of today RadioShack. Radioshack Circuit… has actually officially been bought by Retail Ecommerce Ventures (REV), providing the struggling business a brand-new lease on life. The drawback, a minimum of for folks like us, is that there are no instant plans to return the renowned electronic devices merchant to its brick-and-mortar roots. As the name suggests, REV specializes in online retail, having formerly revamped the Web existence of other bankrupt businesses such as Pier 1 Imports and Dressbarn.
While the press release doesn’t straight-out preclude the possibility of new physical RadioShack locations, 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 response to the continuing COVID-19 pandemic, it’s tough to disagree. There will be countless bored kids and grownups trying to find something to do throughout the long winter season nights, and an electronic set or more shipped to their door might be just the important things.
REV says they plan to relaunch the rather dated RadioShack site in the nick of time for the business’s 100th anniversary in 2021. As of this writing the site presently states that sales have been momentarily 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 product the company still has on hand after shuttering the majority of their physical locations in 2017 certainly seems like something the brand-new owners would want to do.
Like most of you, we have fond memories of the Golden Age of RadioShack, back prior to they thought selling phones and Televisions was somehow a great concept. To their credit, they did try and rekindle their relationship with hackers and makers by asking the neighborhood what they ‘d wish to see in their stores. We all know how that story ended. While it does not look like this news will get us any closer to having a community shop that stocks resistors, there’s a specific convenience in understanding that RadioShack books and packages will still be around for the next generation.
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 retailer 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 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 potential,” and the business is “confident” it can further raise awareness of the brand name worldwide.
REV declares it’s effectively turned around other business it’s launched as online brands. 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 became a retail staple in the ’80s and ’90s for anybody wanting to grab tech essentials. For a long time, that meant real radio elements, but ended up consisting of great deals of electronic toys (one Verge editor fondly remembers his Armatron) and eventually phones. Its fortunes declined greatly as online shopping showed up, and the business declared insolvency twice in the past 5 years. RadioShack still accredits its name to third-party “licensed” shops and offers branded items within some locations of HobbyTown, a crafts seller– similar to how you can still discover “Sharper Image” products at Kohl’s despite the fact that that seller shut its physical doors over a years back. REV didn’t state whether those RadioShack licenses would stay. Radioshack Circuit
REV says it will “soon relaunch” RadioShack’s site. So 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 buy pricey HDMI cables and knockoff earphones.