The bright side is that as of today RadioShack. Radioshack John Roach… has actually officially been acquired by Retail Ecommerce Ventures (REV), providing the troubled business a brand-new lease on life. The disadvantage, a minimum of for folks like us, is that there are no immediate strategies to return the renowned electronics merchant to its brick-and-mortar roots. As the name indicates, REV focuses on online retail, having actually previously revamped the Web existence of other insolvent services such as Pier 1 Imports and Dressbarn.
While journalism release doesn’t outright 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 shopping center. As the United States mulls further lockdowns in response to the continuing COVID-19 pandemic, it’s hard to disagree. There will be millions of bored kids and adults searching for something to do during the long winter nights, and an electronic package or more shipped to their door might be simply the thing.
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 writing the site currently says that sales have actually been briefly halted to permit stock restructuring, though it’s uncertain if this is straight related to the buyout or not. Getting an accurate count of just how much merchandise the company still has on hand after shuttering the majority of their physical areas in 2017 definitely sounds like something the new owners would wish to do.
Like the majority of you, we have fond memories of the Golden Age of RadioShack, back before they believed selling televisions and phones was in some way a great concept. To their credit, they did attempt and rekindle their relationship with hackers and makers by asking the neighborhood what they ‘d want to see in their shops. We all understand how that story ended. While it does not look like this news will get us any closer to having a neighborhood store that stocks resistors, there’s a certain convenience in understanding 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 bought by another company that plans to relaunch the once-great seller as an online-focused brand.
The store’s remains were bought by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brands from other faded retail giants too, consisting of Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV says RadioShack’s website already has “strong existing sales and sales potential,” and the company is “confident” it can even more raise awareness of the brand name globally.
REV claims it’s successfully turned around other business it’s launched as online brands. The Wall Street Journal reported that Dressbarn more than doubled its earnings in between the 2nd and very first quarter of 2020.
RadioShack was established in 1921 and ended up being a retail staple in the ’80s and ’90s for anyone looking to grab tech essentials. REV didn’t state whether those RadioShack licenses would stick around. Radioshack John Roach
REV says it will “soon relaunch” RadioShack’s website. So for those of you still clinging on to fond memories of the store, there’ll be a familiar sufficient location to go when you wish to purchase expensive HDMI cables and knockoff headphones.