The bright side is that since today RadioShack. Radioshack Momentum… has actually officially been bought by Retail Ecommerce Ventures (REV), giving the troubled business a new lease on life. The disadvantage, at least for folks like us, is that there are no immediate strategies to return the iconic electronic devices merchant to its brick-and-mortar roots. As the name implies, REV focuses on online retail, having previously revamped the Internet existence of other insolvent companies 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 believes the future of retail isn’t to be found in your local shopping center. As the United States mulls further lockdowns in reaction to the continuing COVID-19 pandemic, it’s hard to disagree. There will be millions of bored kids and adults looking for something to do throughout the long winter nights, and an electronic kit or 2 delivered to their door might be just the thing.
REV says they prepare to relaunch the rather dated RadioShack site just in time for the company’s 100th anniversary in 2021. Since this writing the site currently says that sales have actually been momentarily halted to enable inventory restructuring, though it’s unclear if this is straight related to the buyout or not. Getting a precise count of just how much product the business still has on hand after shuttering most of their physical places in 2017 certainly seems 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 offering tvs and phones was somehow a good idea. To their credit, they did attempt and rekindle 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 does not look like this news will get us any closer to having an area store that stocks resistors, there’s a specific comfort in knowing that RadioShack packages and books will still be around for the next generation.
RadioShack’s shambling remains were given another shock of life today when they were purchased by another business that prepares to relaunch the once-great merchant as an online-focused brand name.
The shop’s remains were purchased by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brands from other faded retail giants too, including Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV states RadioShack’s site currently has “strong existing sales and sales potential,” and the business is “confident” it can further raise awareness of the brand worldwide.
REV claims it’s effectively reversed other business it’s launched as online brands. The Wall Street Journal reported that Dressbarn more than doubled its earnings in between the second and very first quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anybody looking to get tech basics. For a long period of time, that suggested actual radio parts, however wound up consisting of lots of electronic toys (one Brink editor fondly remembers his Armatron) and ultimately phones. Its fortunes decreased vastly as online shopping showed up, and the company declared bankruptcy twice in the past 5 years. RadioShack still licenses its name to third-party “authorized” shops and offers branded products within some areas of HobbyTown, a crafts seller– comparable to how you can still find “Sharper Image” items at Kohl’s although that retailer shut its physical doors over a decade ago. REV didn’t state whether those RadioShack licenses would stay. Radioshack Momentum
REV states it will “soon relaunch” RadioShack’s website. For those of you still sticking on to fond memories of the store, there’ll be a familiar sufficient place to go when you want to buy pricey HDMI cables and knockoff headphones.