Fortunately is that as of today RadioShack. Radioshack Hummer H2… has actually officially been acquired by Retail Ecommerce Ventures (REV), offering the distressed business a brand-new lease on life. The drawback, a minimum of for folks like us, is that there are no immediate strategies to return the iconic electronics merchant to its brick-and-mortar roots. As the name suggests, REV specializes in online retail, having formerly revamped the Internet existence of other insolvent businesses such as Pier 1 Imports and Dressbarn.
While journalism release doesn’t outright prevent the possibility of brand-new physical RadioShack areas, it’s clear that REV believes the future of retail isn’t to be found in your regional shopping center. As the US mulls even more lockdowns in action to the continuing COVID-19 pandemic, it’s tough to disagree. There will be countless bored kids and adults looking for something to do throughout the long winter season nights, and an electronic kit or 2 shipped to their door might be simply the important things.
REV says they prepare to relaunch the rather dated RadioShack website just in time for the company’s 100th anniversary in 2021. Since this composing the website presently states that sales have been momentarily stopped to allow for stock restructuring, though it’s uncertain if this is straight 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 locations in 2017 certainly seems like something the brand-new owners would want to do.
Like the majority of you, we have fond memories of the Golden Age of RadioShack, back prior to they believed offering tvs and phones was somehow a great concept. To their credit, they did try and revive their relationship with hackers and makers by asking the community what they ‘d wish to see in their shops. We all understand how that story ended. While it doesn’t look like this news will get us any closer to having an area store that stocks resistors, there’s a certain comfort in understanding that RadioShack kits and books will still be around for the next generation.
RadioShack’s shambling remains were provided another jolt of life today when they were bought by another company that plans to relaunch the once-great seller 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 brands from other faded retail giants also, including Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV states RadioShack’s website currently has “strong existing sales and sales capacity,” and the business is “confident” it can even more raise awareness of the brand worldwide.
REV claims 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 earnings in between the very first and 2nd quarter of 2020.
RadioShack was established in 1921 and ended up being a retail staple in the ’80s and ’90s for anybody looking to get tech basics. REV didn’t say whether those RadioShack licenses would stick around. Radioshack Hummer H2
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 enough place to go when you want to purchase expensive HDMI cable televisions and knockoff headphones.