The good news is that since today RadioShack. Radioshack Micro Usb… has actually officially been bought by Retail Ecommerce Ventures (REV), providing the troubled business a new lease on life. The disadvantage, at least for folks like us, is that there are no instant strategies to return the iconic electronics seller to its brick-and-mortar roots. As the name implies, REV focuses on online retail, having actually previously revamped the Internet presence of other insolvent services such as Pier 1 Imports and Dressbarn.
While journalism release does not straight-out preclude the possibility of new physical RadioShack areas, it’s clear that REV believes the future of retail isn’t to be discovered in your regional strip mall. As the United States mulls even more lockdowns in response to the continuing COVID-19 pandemic, it’s tough to disagree. There will be countless bored kids and grownups trying to find something to do during the long winter nights, and an electronic package or 2 delivered to their door might be just the important things.
REV states they plan to relaunch the rather dated RadioShack website just in time for the business’s 100th anniversary in 2021. As of this writing the site presently says that sales have actually been briefly halted to allow for stock restructuring, though it’s unclear if this is directly related to the buyout or not. Getting a precise count of just how much merchandise the business still has on hand after shuttering the majority of their physical locations in 2017 certainly sounds like something the new owners would want to do.
We all understand how that story ended.
RadioShack’s shambling remains were offered another jolt of life today when they were acquired by another company that plans to relaunch the once-great merchant as an online-focused brand name.
The store’s remains were acquired by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brands from other faded retail giants also, consisting of Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV says RadioShack’s site already has “strong existing sales and sales potential,” and the company is “positive” it can further raise awareness of the brand globally.
REV declares it’s successfully turned around other business it’s introduced as online brands. The Wall Street Journal reported that Dressbarn more than doubled its revenue between the second and very first quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anybody seeking to get tech basics. For a very long time, that indicated real radio parts, but ended up including lots of electronic toys (one Edge editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined significantly as online shopping got here, and the company applied for bankruptcy two times in the past 5 years. RadioShack still accredits its name to third-party “licensed” shops and offers top quality products within some places of HobbyTown, a crafts seller– comparable to how you can still find “Sharper Image” products at Kohl’s despite the fact that that retailer shut its physical doors over a years earlier. REV didn’t say whether those RadioShack licenses would stay. Radioshack Micro Usb
REV says it will “quickly relaunch” RadioShack’s website. So for those of you still sticking on to fond memories of the store, there’ll be a familiar adequate location to go when you wish to purchase overpriced HDMI cable televisions and knockoff headphones.