The bright side is that as of today RadioShack. Radioshack Extreme Range Am/fm/weather Radio Ac Cable… has officially been acquired by Retail Ecommerce Ventures (REV), giving the struggling business a brand-new lease on life. The disadvantage, a minimum of for folks like us, is that there are no instant plans to return the iconic electronic devices seller to its brick-and-mortar roots. As the name indicates, REV specializes in online retail, having actually previously revamped the Web presence of other insolvent companies such as Pier 1 Imports and Dressbarn.
While the press release does not straight-out prevent the possibility of brand-new physical RadioShack areas, 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 tough to disagree. There will be countless bored kids and adults trying to find something to do during the long winter season nights, and an electronic kit or two delivered to their door might be simply the important things.
REV states they prepare to relaunch the rather dated RadioShack website in the nick of time for the business’s 100th anniversary in 2021. As of this composing the site presently says that sales have been temporarily halted to allow for inventory restructuring, though it’s unclear if this is straight related to the buyout or not. Getting a precise count of just how much product the business still has on hand after shuttering the majority of their physical places in 2017 definitely sounds like something the new owners would want to do.
Like most of you, we have fond memories of the Golden era of RadioShack, back before they believed offering phones and Televisions was in some way an excellent concept. To their credit, they did attempt and rekindle their relationship with hackers and makers by asking the neighborhood what they ‘d wish to see in their stores. However we all know how that story ended. While it does not appear like this news will get us any closer to having an area shop that stocks resistors, there’s a certain comfort in understanding that RadioShack books and packages 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 retailer as an online-focused brand.
The shop’s remains were acquired by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brand names from other faded retail giants too, consisting of Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV states RadioShack’s site already has “strong existing sales and sales potential,” and the company is “positive” it can further raise awareness of the brand name worldwide.
REV claims it’s effectively reversed other business it’s introduced as online brands. The Wall Street Journal reported that Dressbarn more than doubled its profits 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 anybody looking to grab tech basics. For a long period of time, that suggested actual radio elements, but ended up including great deals of electronic toys (one Verge editor fondly remembers his Armatron) and eventually phones. Its fortunes declined vastly as online shopping showed up, and the business filed for personal bankruptcy twice in the past five years. RadioShack still licenses its name to third-party “licensed” stores and offers branded items within some places of HobbyTown, a crafts retailer– comparable to how you can still find “Sharper Image” products at Kohl’s although that seller shut its physical doors over a years earlier. REV didn’t state whether those RadioShack licenses would stay. Radioshack Extreme Range Am/fm/weather Radio Ac Cable
REV states it will “soon relaunch” RadioShack’s site. So for those of you still clinging on to fond memories of the store, there’ll be a familiar adequate place to go when you want to buy costly HDMI cables and knockoff headphones.