The bright side is that as of today RadioShack. Radioshack Multimeters… has officially been bought by Retail Ecommerce Ventures (REV), offering the struggling business a new lease on life. The drawback, at least for folks like us, is that there are no instant plans to return the renowned electronic devices seller to its brick-and-mortar roots. As the name implies, REV focuses on online retail, having previously revamped the Web existence of other bankrupt services such as Pier 1 Imports and Dressbarn.
While journalism release does not outright preclude the possibility of brand-new physical RadioShack locations, it’s clear that REV believes the future of retail isn’t to be found in your regional strip mall. 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 adults looking for something to do during the long winter season nights, and an electronic package or two shipped to their door might be simply the thing.
REV states they plan to relaunch the rather dated RadioShack website in the nick of time for the business’s 100th anniversary in 2021. Since this writing the website currently states that sales have actually been momentarily halted to enable stock restructuring, though it’s uncertain if this is straight related to the buyout or not. Getting a precise count of just how much product the company still has on hand after shuttering most of their physical locations in 2017 certainly seems like something the brand-new owners would want to do.
Like most of you, we have fond memories of the Golden Age of RadioShack, back before they thought offering tvs and phones was in some way a great concept. To their credit, they did try and rekindle their relationship with hackers and makers by asking the neighborhood what they ‘d want to see in their stores. However we all know how that story ended. While it doesn’t look like this news will get us any closer to having a neighborhood store that stocks resistors, there’s a particular comfort in understanding that RadioShack sets 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 prepares to relaunch the once-great retailer 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 as well, 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 company is “confident” it can even more raise awareness of the brand name worldwide.
REV claims it’s successfully turned around other business it’s launched as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its revenue in between the very first and second quarter of 2020.
RadioShack was established in 1921 and became a retail staple in the ’80s and ’90s for anyone looking to grab tech essentials. REV didn’t say whether those RadioShack licenses would stick around. Radioshack Multimeters
REV says it will “quickly relaunch” RadioShack’s website. So for those of you still sticking on to fond memories of the shop, there’ll be a familiar enough location to go when you wish to buy overpriced HDMI cable televisions and knockoff headphones.