The good news is that since today RadioShack. Radioshack Herndon And Fowler… has actually officially been purchased by Retail Ecommerce Ventures (REV), offering the distressed 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 implies, REV focuses on online retail, having previously revamped the Web presence of other insolvent services such as Pier 1 Imports and Dressbarn.
While journalism release doesn’t straight-out prevent the possibility of new physical RadioShack places, it’s clear that REV thinks the future of retail isn’t to be found 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 adults looking for something to do during the long winter season nights, and an electronic package or 2 delivered to their door might be simply the important things.
REV says they prepare to relaunch the rather dated RadioShack website in the nick of time for the business’s 100th anniversary in 2021. Since this writing the website presently states that sales have actually been momentarily stopped to permit inventory restructuring, though it’s uncertain if this is straight related to the buyout or not. Getting a precise count of just how much product the company still has on hand after shuttering the majority of their physical locations in 2017 definitely sounds like something the brand-new owners would wish to do.
Like most of you, we have fond memories of the Golden era of RadioShack, back before they believed selling phones and TVs was in some way a great idea. To their credit, they did try and revive their relationship with hackers and makers by asking the neighborhood what they ‘d wish to see in their stores. We all know how that story ended. While it doesn’t look like this news will get us any closer to having a community store that stocks resistors, there’s a particular comfort in knowing that RadioShack packages and books will still be around for the next generation.
RadioShack’s shambling remains were provided another shock of life today when they were acquired by another company that prepares to relaunch the once-great retailer as an online-focused brand.
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 too, 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 company is “confident” it can even more raise awareness of the brand name internationally.
REV declares it’s effectively turned around other companies it’s released as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its revenue in between the first and second quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anybody seeking to grab tech basics. For a very long time, that meant actual radio elements, however ended up consisting of great deals of electronic toys (one Brink editor fondly remembers his Armatron) and eventually phones. Its fortunes declined significantly as online shopping got here, and the business declared bankruptcy twice in the past 5 years. RadioShack still licenses its name to third-party “licensed” stores and offers branded items within some locations of HobbyTown, a crafts retailer– similar to how you can still discover “Sharper Image” products at Kohl’s even though that seller shut its physical doors over a decade earlier. REV didn’t say whether those RadioShack licenses would remain. Radioshack Herndon And Fowler
REV states it will “quickly relaunch” RadioShack’s website. So for those of you still clinging on to fond memories of the store, there’ll be a familiar adequate location to go when you wish to purchase pricey HDMI cables and knockoff headphones.