Fortunately is that since today RadioShack. Radioshack Conway Ar… has actually officially been acquired by Retail Ecommerce Ventures (REV), providing the distressed company a new lease on life. The disadvantage, at least for folks like us, is that there are no instant plans to return the iconic electronics seller to its brick-and-mortar roots. As the name indicates, REV focuses on online retail, having formerly revamped the Web existence of other insolvent organizations such as Pier 1 Imports and Dressbarn.
While journalism release doesn’t outright prevent the possibility of brand-new physical RadioShack locations, it’s clear that REV believes the future of retail isn’t to be discovered in your regional shopping center. As the US mulls further lockdowns in action to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be countless bored kids and grownups searching for something to do during the long winter nights, and an electronic package or two shipped to their door might be simply the important things.
REV states they plan to relaunch the rather outdated RadioShack website in the nick of time for the company’s 100th anniversary in 2021. As of this writing the website currently says that sales have actually been momentarily stopped to allow for 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 places in 2017 certainly seems like something the new owners would want to do.
Like most of you, we have fond memories of the Golden Age of RadioShack, back prior to they believed offering tvs and phones was somehow an excellent idea. To their credit, they did attempt and revive 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 does not look like this news will get us any closer to having a neighborhood store that stocks resistors, there’s a specific convenience in understanding that RadioShack books and kits will still be around for the next generation.
RadioShack’s shambling remains were given another jolt of life today when they were acquired by another company that plans to relaunch the once-great seller as an online-focused brand name.
The store’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 as well, including Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV states RadioShack’s website currently has “strong existing sales and sales potential,” and the business is “confident” it can even more raise awareness of the brand name globally.
REV claims it’s effectively turned around other business it’s launched as online brands. The Wall Street Journal reported that Dressbarn more than doubled its earnings in between the second and very first 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. REV didn’t state whether those RadioShack licenses would stick around. Radioshack Conway Ar
REV states it will “quickly relaunch” RadioShack’s website. So for those of you still sticking on to fond memories of the shop, there’ll be a familiar adequate location to go when you wish to purchase expensive HDMI cables and knockoff headphones.