The bright side is that as of today RadioShack. Radioshack Political Donations… has officially been bought by Retail Ecommerce Ventures (REV), providing the troubled business a new lease on life. The disadvantage, a minimum of for folks like us, is that there are no immediate strategies to return the renowned electronics retailer to its brick-and-mortar roots. As the name suggests, REV concentrates on online retail, having actually previously revamped the Web presence of other insolvent businesses such as Pier 1 Imports and Dressbarn.
While the press 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 found in your local 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 grownups trying to find something to do throughout the long winter season nights, and an electronic package or two delivered to their door might be simply the thing.
REV says they plan to relaunch the rather outdated RadioShack website just in time for the company’s 100th anniversary in 2021. Since this composing the website presently says that sales have been momentarily stopped to permit 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 definitely 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 prior to they believed offering phones and TVs was in some way an excellent idea. To their credit, they did attempt and rekindle their relationship with hackers and makers by asking the community what they ‘d want to see in their stores. But we all know how that story ended. While it does not appear like this news will get us any closer to having a community shop that stocks resistors, there’s a particular convenience in understanding that RadioShack books and sets will still be around for the next generation.
RadioShack’s shambling remains were provided another shock of life today when they were purchased by another company that plans to relaunch the once-great retailer as an online-focused brand name.
The store’s remains were bought 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 Item, Dressbarn, and more. REV says RadioShack’s site already has “strong existing sales and sales capacity,” and the company is “positive” it can further raise awareness of the brand worldwide.
REV declares it’s successfully turned around other business it’s launched as online brands. The Wall Street Journal reported that Dressbarn more than doubled its income in between the second and first quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anyone seeking to grab tech fundamentals. For a long time, that suggested real radio elements, but ended up including great deals of electronic toys (one Edge editor fondly remembers his Armatron) and ultimately phones. Its fortunes decreased significantly as online shopping arrived, and the business filed for bankruptcy two times in the past five years. RadioShack still accredits its name to third-party “authorized” shops and offers branded items within some locations of HobbyTown, a crafts merchant– similar to how you can still find “Sharper Image” products at Kohl’s even though that merchant shut its physical doors over a years back. REV didn’t state whether those RadioShack licenses would stay. Radioshack Political Donations
REV says it will “quickly relaunch” RadioShack’s site. For those of you still clinging on to fond memories of the store, there’ll be a familiar enough location to go when you desire to purchase overpriced HDMI cables and knockoff headphones.