The bright side is that since today RadioShack. Radioshack Com Giftcards… has actually officially been purchased by Retail Ecommerce Ventures (REV), giving the distressed company a brand-new lease on life. The drawback, a minimum of for folks like us, is that there are no immediate strategies to return the iconic electronic devices seller to its brick-and-mortar roots. As the name implies, REV concentrates on online retail, having actually previously revamped the Internet presence of other bankrupt services such as Pier 1 Imports and Dressbarn.
While journalism release does not straight-out preclude the possibility of new physical RadioShack places, it’s clear that REV thinks the future of retail isn’t to be discovered in your regional strip mall. As the US mulls further lockdowns in reaction to the continuing COVID-19 pandemic, it’s tough to disagree. There will be countless bored kids and adults searching for something to do during the long winter nights, and an electronic package or 2 shipped to their door might be simply the important things.
REV says they prepare to relaunch the rather dated RadioShack website in the nick of time for the company’s 100th anniversary in 2021. As of this composing the site presently states that sales have actually been momentarily halted to allow for stock restructuring, though it’s unclear if this is directly related to the buyout or not. Getting a precise count of just how much merchandise the company still has on hand after shuttering most of their physical locations in 2017 certainly seems like something the new owners would want to do.
We all understand how that story ended.
RadioShack’s shambling remains were given another shock of life today when they were acquired by another company that prepares 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 brand names from other faded retail giants too, including Pier 1, Modell’s Sporting Product, 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 internationally.
REV claims it’s effectively reversed other business it’s launched as online brands. The Wall Street Journal reported that Dressbarn more than doubled its revenue in between the 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 looking to get tech fundamentals. REV didn’t say whether those RadioShack licenses would stick around. Radioshack Com Giftcards
REV says 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 enough place to go when you want to buy costly HDMI cables and knockoff earphones.