Fortunately is that as of today RadioShack. Radioshack De El Salvador… has actually formally been bought by Retail Ecommerce Ventures (REV), offering the troubled business a new lease on life. The downside, at least 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 actually formerly revamped the Web presence of other insolvent organizations such as Pier 1 Imports and Dressbarn.
While the press release doesn’t straight-out prevent the possibility of brand-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 US mulls even more lockdowns in response to the continuing COVID-19 pandemic, it’s tough to disagree. There will be millions of bored kids and adults looking for something to do throughout the long winter nights, and an electronic package or 2 delivered to their door might be just the thing.
REV says they plan 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 stopped to allow for inventory restructuring, though it’s unclear if this is straight related to the buyout or not. Getting an accurate count of how much merchandise the business still has on hand after shuttering most of their physical areas in 2017 certainly sounds like something the brand-new owners would wish to do.
Like most of you, we have fond memories of the Golden Age of RadioShack, back prior to they thought offering phones and TVs was in some way an excellent idea. To their credit, they did try and revive their relationship with hackers and makers by asking the community what they ‘d want to see in their shops. However all of us know how that story ended. While it doesn’t appear like this news will get us any closer to having a neighborhood store that stocks resistors, there’s a particular comfort in knowing that RadioShack books and sets will still be around for the next generation.
RadioShack’s shambling remains were offered another jolt of life today when they were purchased by another company that prepares to relaunch the once-great merchant as an online-focused brand name.
The shop’s remains were bought by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brand names from other faded retail giants as well, consisting of Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV states RadioShack’s site currently has “strong existing sales and sales capacity,” and the business is “confident” it can further raise awareness of the brand worldwide.
REV claims it’s successfully turned around other companies it’s introduced as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its revenue between the second and first quarter of 2020.
RadioShack was established in 1921 and became a retail staple in the ’80s and ’90s for anyone looking to grab tech fundamentals. REV didn’t say whether those RadioShack licenses would stick around. Radioshack De El Salvador
REV states it will “quickly relaunch” RadioShack’s website. So for those of you still clinging on to fond memories of the shop, there’ll be a familiar adequate place to go when you want to buy expensive HDMI cables and knockoff earphones.