The bright side is that since today RadioShack. Radioshack Powerhorn 40-1307… has actually formally been acquired by Retail Ecommerce Ventures (REV), providing the struggling business a new lease on life. The downside, at least for folks like us, is that there are no instant plans to return the iconic electronic devices retailer to its brick-and-mortar roots. As the name suggests, REV focuses on online retail, having actually formerly revamped the Web presence of other bankrupt companies such as Pier 1 Imports and Dressbarn.
While the press release does not outright preclude the possibility of brand-new physical RadioShack areas, it’s clear that REV believes the future of retail isn’t to be discovered in your local shopping center. As the US mulls even more lockdowns in response to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be millions of bored kids and grownups looking for something to do during the long winter season nights, and an electronic package or 2 delivered to their door might be simply the important things.
REV says they plan to relaunch the rather dated RadioShack site in the nick of time for the business’s 100th anniversary in 2021. As of this writing the site presently states that sales have actually been temporarily stopped to allow for inventory 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 company still has on hand after shuttering the majority of their physical places in 2017 certainly sounds like something the brand-new owners would want to do.
Like most of you, we have fond memories of the Golden era of RadioShack, back before they believed selling tvs and phones was in some way a great concept. 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 appear like this news will get us any closer to having an area store that stocks resistors, there’s a particular comfort in knowing that RadioShack kits and books will still be around for the next generation.
RadioShack’s shambling remains were offered another shock of life today when they were bought by another business that prepares to relaunch the once-great merchant as an online-focused brand.
The store’s remains were purchased by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brand names from other faded retail giants also, consisting of Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV says RadioShack’s website already has “strong existing sales and sales capacity,” and the business is “positive” it can further raise awareness of the brand name globally.
REV claims it’s effectively reversed other business it’s introduced 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 founded in 1921 and became a retail staple in the ’80s and ’90s for anyone seeking to get tech fundamentals. For a very long time, that implied actual radio elements, however wound up consisting of lots of electronic toys (one Verge editor fondly remembers his Armatron) and eventually phones. Its fortunes declined greatly as online shopping arrived, and the business declared bankruptcy twice in the past 5 years. RadioShack still certifies its name to third-party “licensed” stores and sells branded items within some locations of HobbyTown, a crafts seller– comparable to how you can still find “Sharper Image” products at Kohl’s although that seller shut its physical doors over a years ago. REV didn’t say whether those RadioShack licenses would remain. Radioshack Powerhorn 40-1307
REV says it will “quickly relaunch” RadioShack’s site. For those of you still sticking on to fond memories of the store, there’ll be a familiar sufficient place to go when you desire to purchase pricey HDMI cable televisions and knockoff headphones.