The bright side is that as of today RadioShack. Radioshack Gillette Nj… has formally been bought by Retail Ecommerce Ventures (REV), giving the troubled company a new lease on life. The downside, a minimum of for folks like us, is that there are no instant strategies to return the renowned electronic devices seller to its brick-and-mortar roots. As the name suggests, REV specializes in online retail, having formerly revamped the Internet existence of other bankrupt services such as Pier 1 Imports and Dressbarn.
While the press release does not straight-out preclude the possibility of new physical RadioShack locations, it’s clear that REV thinks the future of retail isn’t to be discovered in your regional strip mall. As the US mulls even more lockdowns in reaction to the continuing COVID-19 pandemic, it’s tough to disagree. There will be millions of bored kids and grownups trying to find something to do throughout the long winter nights, and an electronic package or 2 delivered to their door might be just the important things.
REV says they plan to relaunch the rather dated RadioShack website just in time for the business’s 100th anniversary in 2021. Since this composing the website currently states that sales have actually been momentarily halted to enable inventory restructuring, though it’s unclear if this is directly related to the buyout or not. Getting an accurate count of how much product the company still has on hand after shuttering the majority of their physical areas in 2017 certainly 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 thought selling phones and Televisions was in some way a great 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. We all know 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 convenience in knowing that RadioShack books and sets will still be around for the next generation.
RadioShack’s shambling remains were given another shock of life today when they were purchased by another company that plans to relaunch the once-great seller 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 brands from other faded retail giants as well, including Pier 1, Modell’s Sporting Product, 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 worldwide.
REV declares it’s effectively turned around other business it’s launched as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its profits in between the first and 2nd quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anybody looking to get tech essentials. REV didn’t state whether those RadioShack licenses would stick around. Radioshack Gillette Nj
REV says it will “soon relaunch” RadioShack’s site. So for those of you still clinging on to fond memories of the shop, there’ll be a familiar adequate location to go when you wish to buy costly HDMI cable televisions and knockoff headphones.