Fortunately is that as of today RadioShack. Radioshack Omaha Ne… has actually officially been acquired by Retail Ecommerce Ventures (REV), offering the troubled business a brand-new lease on life. The downside, at least for folks like us, is that there are no immediate strategies to return the iconic electronic devices retailer to its brick-and-mortar roots. As the name suggests, REV concentrates on online retail, having actually formerly revamped the Web presence of other insolvent organizations such as Pier 1 Imports and Dressbarn.
While journalism release doesn’t straight-out prevent the possibility of brand-new physical RadioShack locations, it’s clear that REV believes the future of retail isn’t to be discovered in your local 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 looking for something to do during the long winter season nights, and an electronic package or 2 delivered to their door might be just the thing.
REV says they prepare to relaunch the rather outdated RadioShack site just in time for the company’s 100th anniversary in 2021. Since this writing the site presently states that sales have been momentarily halted to allow for stock restructuring, though it’s uncertain if this is straight related to the buyout or not. Getting an accurate count of just how much product the business still has on hand after shuttering most of their physical areas in 2017 definitely sounds like something the brand-new owners would wish to do.
We all understand how that story ended.
RadioShack’s shambling remains were provided another jolt of life today when they were acquired by another business that plans to relaunch the once-great retailer as an online-focused brand name.
The store’s remains were acquired by Retail Ecommerce Ventures (REV), a startup 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 even more raise awareness of the brand 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 between the first and second quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anybody looking to get tech fundamentals. For a very long time, that suggested actual radio parts, however wound up including lots of electronic toys (one Verge editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined vastly as online shopping showed up, and the business applied for bankruptcy two times in the past five years. RadioShack still licenses its name to third-party “licensed” shops and sells branded items within some locations of HobbyTown, a crafts retailer– similar to how you can still find “Sharper Image” products at Kohl’s although that merchant shut its physical doors over a decade ago. REV didn’t say whether those RadioShack licenses would stick around. Radioshack Omaha Ne
REV says it will “soon relaunch” RadioShack’s website. For those of you still clinging on to fond memories of the store, there’ll be a familiar enough place to go when you want to buy overpriced HDMI cables and knockoff earphones.