The bright side is that since today RadioShack. Radioshack Corpus Christi… has formally been acquired by Retail Ecommerce Ventures (REV), giving the struggling business a new lease on life. The downside, a minimum of for folks like us, is that there are no instant plans to return the iconic electronic devices retailer to its brick-and-mortar roots. As the name implies, REV specializes in online retail, having previously revamped the Internet presence of other insolvent companies such as Pier 1 Imports and Dressbarn.
While journalism release does not outright preclude the possibility of new physical RadioShack places, it’s clear that REV thinks the future of retail isn’t to be found in your local shopping center. As the United States mulls even more lockdowns in action to the continuing COVID-19 pandemic, it’s tough to disagree. There will be countless bored kids and adults looking for something to do during the long winter season nights, and an electronic kit or more delivered to their door might be simply the important things.
REV says they plan to relaunch the rather outdated RadioShack website in the nick of time for the business’s 100th anniversary in 2021. Since this writing the site currently states that sales have actually been briefly stopped to permit stock restructuring, though it’s uncertain if this is straight related to the buyout or not. Getting an accurate count of just how much product the business still has on hand after shuttering most of their physical places in 2017 definitely sounds like something the brand-new owners would want to do.
Like the majority of you, we have fond memories of the Golden era of RadioShack, back before they thought offering phones and Televisions was somehow an excellent idea. To their credit, they did attempt and rekindle their relationship with hackers and makers by asking the community what they ‘d wish to see in their shops. But all of us understand how that story ended. While it does not look like this news will get us any closer to having an area shop that stocks resistors, there’s a certain comfort in knowing that RadioShack packages and books will still be around for the next generation.
RadioShack’s shambling remains were given another jolt of life today when they were purchased by another business that prepares to relaunch the once-great merchant as an online-focused brand name.
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 as well, consisting of Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV says RadioShack’s site already has “strong existing sales and sales capacity,” and the business is “confident” it can further raise awareness of the brand globally.
REV claims it’s successfully reversed other companies it’s introduced as online brands. The Wall Street Journal reported that Dressbarn more than doubled its revenue between the first and second quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anybody wanting to get tech basics. For a long time, that meant real radio parts, but wound up consisting of great deals of electronic toys (one Brink editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined vastly as online shopping arrived, and the company declared personal bankruptcy twice in the past five years. RadioShack still certifies its name to third-party “licensed” shops and sells top quality products within some areas of HobbyTown, a crafts retailer– comparable to how you can still discover “Sharper Image” items at Kohl’s even though that retailer shut its physical doors over a years ago. REV didn’t say whether those RadioShack licenses would remain. Radioshack Corpus Christi
REV states it will “quickly relaunch” RadioShack’s website. For those of you still sticking on to fond memories of the shop, there’ll be a familiar adequate location to go when you desire to buy costly HDMI cable televisions and knockoff earphones.