The good news is that since today RadioShack. Radioshack Robie… has actually officially been purchased by Retail Ecommerce Ventures (REV), providing the distressed business a brand-new lease on life. The disadvantage, at least 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 suggests, REV concentrates on online retail, having actually previously revamped the Internet existence of other insolvent businesses such as Pier 1 Imports and Dressbarn.
While the press release doesn’t straight-out preclude the possibility of brand-new physical RadioShack locations, it’s clear that REV thinks the future of retail isn’t to be found in your local shopping center. As the United States mulls further lockdowns in action to the continuing COVID-19 pandemic, it’s tough to disagree. There will be millions of bored kids and grownups searching for something to do during the long winter nights, and an electronic set or 2 shipped to their door might be just the important things.
REV states they prepare to relaunch the rather dated RadioShack site in the nick of time for the business’s 100th anniversary in 2021. Since this composing the website currently says that sales have actually been briefly halted to permit stock restructuring, though it’s uncertain if this is straight related to the buyout or not. Getting an accurate count of how much product the company still has on hand after shuttering the majority of their physical locations in 2017 certainly seems 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 acquired by another business that plans to relaunch the once-great retailer as an online-focused brand.
The store’s remains were bought by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brands from other faded retail giants also, including Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV states RadioShack’s site currently has “strong existing sales and sales capacity,” and the company is “confident” it can even more raise awareness of the brand worldwide.
REV claims it’s successfully turned around other companies it’s introduced as online brands. The Wall Street Journal reported that Dressbarn more than doubled its earnings 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 looking to get tech essentials. REV didn’t say whether those RadioShack licenses would stick around. Radioshack Robie
REV states it will “quickly relaunch” RadioShack’s website. For those of you still sticking on to fond memories of the store, there’ll be a familiar enough location to go when you desire to buy overpriced HDMI cable televisions and knockoff headphones.