The bright side is that since today RadioShack. Radioshack Product Support… 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 strategies to return the renowned electronic devices retailer to its brick-and-mortar roots. As the name indicates, REV focuses on online retail, having actually previously revamped the Internet existence of other bankrupt services such as Pier 1 Imports and Dressbarn.
While the press release does not straight-out prevent the possibility of brand-new physical RadioShack locations, it’s clear that REV thinks the future of retail isn’t to be discovered in your regional strip mall. As the US mulls further lockdowns in reaction to the continuing COVID-19 pandemic, it’s hard to disagree. There will be countless bored kids and adults looking for something to do throughout the long winter nights, and an electronic kit or more shipped to their door might be simply the important things.
REV says they prepare to relaunch the rather outdated RadioShack site just in time for the company’s 100th anniversary in 2021. As of this composing the website currently says that sales have been momentarily halted to enable inventory restructuring, though it’s uncertain if this is straight related to the buyout or not. Getting a precise count of how much product the business still has on hand after shuttering the majority of their physical places in 2017 definitely sounds like something the brand-new owners would want to do.
We all understand how that story ended.
RadioShack’s shambling remains were offered another shock of life today when they were purchased by another company 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 start-up founded in 2019 that’s been scooping up brand names from other faded retail giants also, consisting of Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV says RadioShack’s website already has “strong existing sales and sales capacity,” and the company is “confident” it can even more raise awareness of the brand internationally.
REV declares it’s successfully reversed other companies it’s introduced as online brands. The Wall Street Journal reported that Dressbarn more than doubled its profits in between the 2nd and 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 fundamentals. For a very long time, that meant actual radio elements, but ended up including lots of electronic toys (one Brink editor fondly remembers his Armatron) and eventually phones. Its fortunes declined vastly as online shopping got here, and the company declared bankruptcy two times in the past five years. RadioShack still licenses its name to third-party “licensed” shops and sells top quality items within some areas of HobbyTown, a crafts merchant– comparable to how you can still find “Sharper Image” items at Kohl’s even though that retailer shut its physical doors over a years back. REV didn’t say whether those RadioShack licenses would stay. Radioshack Product Support
REV says it will “quickly relaunch” RadioShack’s site. So for those of you still clinging on to fond memories of the shop, there’ll be a familiar sufficient location to go when you want to buy overpriced HDMI cable televisions and knockoff earphones.