The bright side is that as of today RadioShack. Radioshack Marketing… has officially been purchased by Retail Ecommerce Ventures (REV), providing the struggling company a new lease on life. The drawback, at least 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 suggests, REV specializes in online retail, having previously revamped the Web existence of other insolvent organizations 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 response to the continuing COVID-19 pandemic, it’s hard to disagree. There will be millions of bored kids and grownups searching for something to do during the long winter nights, and an electronic set or more delivered to their door might be just the important things.
REV states they plan to relaunch the rather dated RadioShack website in the nick of time for the company’s 100th anniversary in 2021. As of this writing the website presently says that sales have actually been momentarily halted to allow for inventory restructuring, though it’s uncertain if this is directly related to the buyout or not. Getting an accurate count of how much merchandise the business still has on hand after shuttering most of their physical areas in 2017 certainly sounds like something the new owners would wish to do.
We all know how that story ended.
RadioShack’s shambling remains were given another shock of life today when they were purchased by another company that prepares to relaunch the once-great retailer as an online-focused brand.
The store’s remains were purchased by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brand names from other faded retail giants also, including Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV states 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 internationally.
REV claims it’s effectively turned around other companies it’s introduced as online brands. The Wall Street Journal reported that Dressbarn more than doubled its revenue in between the first and second 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 Marketing
REV says it will “quickly relaunch” RadioShack’s site. For those of you still sticking on to fond memories of the store, there’ll be a familiar adequate place to go when you want to buy overpriced HDMI cable televisions and knockoff headphones.