The good news is that since today RadioShack. Radioshack Dog… has formally been acquired by Retail Ecommerce Ventures (REV), offering the struggling company a new lease on life. The downside, at least for folks like us, is that there are no instant strategies to return the renowned electronics 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 services such as Pier 1 Imports and Dressbarn.
While journalism release does not straight-out preclude the possibility of brand-new physical RadioShack places, it’s clear that REV believes the future of retail isn’t to be discovered in your regional shopping center. As the US mulls even more lockdowns in reaction to the continuing COVID-19 pandemic, it’s hard to disagree. There will be millions of bored kids and adults looking for something to do throughout the long winter season nights, and an electronic set or two delivered to their door might be simply the thing.
REV says they prepare to relaunch the rather dated RadioShack website just in time for the business’s 100th anniversary in 2021. As of this writing the website presently states that sales have been momentarily halted to permit stock restructuring, though it’s unclear if this is straight related to the buyout or not. Getting a precise count of how much product the business still has on hand after shuttering most of their physical areas in 2017 certainly seems like something the brand-new owners would want to do.
We all know how that story ended.
RadioShack’s shambling remains were provided another jolt of life today when they were acquired by another business that prepares to relaunch the once-great seller as an online-focused brand name.
The store’s remains were acquired by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brands from other faded retail giants as well, including Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV says RadioShack’s website currently has “strong existing sales and sales capacity,” and the business is “confident” it can further raise awareness of the brand internationally.
REV claims it’s effectively turned around other companies it’s launched as online brands. The Wall Street Journal reported that Dressbarn more than doubled its revenue between the second and first quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anybody looking to grab tech essentials. For a long time, that suggested actual radio components, but ended up including great deals of electronic toys (one Brink editor fondly remembers his Armatron) and eventually phones. Its fortunes declined significantly as online shopping arrived, and the business filed for bankruptcy twice in the past 5 years. RadioShack still certifies its name to third-party “authorized” stores and sells top quality items within some areas of HobbyTown, a crafts retailer– comparable to how you can still discover “Sharper Image” products at Kohl’s even though that merchant shut its physical doors over a years ago. REV didn’t say whether those RadioShack licenses would stick around. Radioshack Dog
REV says it will “soon relaunch” RadioShack’s site. For those of you still sticking on to fond memories of the shop, there’ll be a familiar enough location to go when you want to purchase pricey HDMI cables and knockoff headphones.