The good news is that since today RadioShack. Radioshack Resistors… has formally been bought by Retail Ecommerce Ventures (REV), offering the troubled company a brand-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 merchant to its brick-and-mortar roots. As the name indicates, REV specializes in online retail, having actually previously revamped the Internet existence of other insolvent organizations such as Pier 1 Imports and Dressbarn.
While the press release doesn’t straight-out preclude the possibility of brand-new physical RadioShack places, it’s clear that REV thinks the future of retail isn’t to be discovered in your local strip mall. As the United States mulls even more lockdowns in reaction to the continuing COVID-19 pandemic, it’s hard to disagree. There will be countless bored kids and grownups trying to find something to do during the long winter season nights, and an electronic kit or two shipped to their door might be simply the important things.
REV states they plan to relaunch the rather outdated RadioShack site in the nick of time for the company’s 100th anniversary in 2021. As of this writing the website presently states that sales have been temporarily stopped to permit stock restructuring, though it’s uncertain if this is directly 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 certainly seems like something the brand-new owners would wish to do.
We all know how that story ended.
RadioShack’s shambling remains were given 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 name.
The store’s remains were bought 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 Product, Dressbarn, and more. REV states RadioShack’s site already has “strong existing sales and sales capacity,” and the business is “confident” it can further raise awareness of the brand name internationally.
REV declares it’s successfully turned around other companies it’s introduced as online brands. The Wall Street Journal reported that Dressbarn more than doubled its revenue 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 anybody wanting to grab tech essentials. For a very long time, that indicated real radio parts, however wound up including lots of electronic toys (one Edge editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined vastly as online shopping got here, and the company declared insolvency twice in the past five years. RadioShack still licenses its name to third-party “licensed” stores and offers top quality items within some areas of HobbyTown, a crafts retailer– comparable to how you can still discover “Sharper Image” items at Kohl’s even though that merchant shut its physical doors over a years back. REV didn’t say whether those RadioShack licenses would stay. Radioshack Resistors
REV says it will “soon relaunch” RadioShack’s website. For those of you still clinging on to fond memories of the shop, there’ll be a familiar enough location to go when you want to buy costly HDMI cable televisions and knockoff headphones.