The good news is that as of today RadioShack. Radioshack San Luis Obispo… has actually formally been acquired by Retail Ecommerce Ventures (REV), providing the troubled business a brand-new lease on life. The disadvantage, at least for folks like us, is that there are no instant plans to return the renowned electronics seller to its brick-and-mortar roots. As the name implies, REV concentrates on online retail, having actually formerly revamped the Internet presence of other insolvent companies such as Pier 1 Imports and Dressbarn.
While the press release does not straight-out preclude the possibility of new physical RadioShack places, it’s clear that REV believes the future of retail isn’t to be discovered in your local strip mall. As the United States mulls further lockdowns in reaction to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be countless bored kids and adults trying to find something to do during the long winter season nights, and an electronic package or more delivered to their door might be simply the important things.
REV states they prepare to relaunch the rather outdated RadioShack website just in time for the company’s 100th anniversary in 2021. As of this composing the website presently states that sales have actually been momentarily stopped to allow for inventory restructuring, though it’s uncertain if this is directly related to the buyout or not. Getting an accurate count of how much merchandise 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 wish to do.
We all know how that story ended.
RadioShack’s shambling remains were provided another shock of life today when they were bought by another business that plans to relaunch the once-great seller as an online-focused brand name.
The store’s remains were purchased by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brands from other faded retail giants too, 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 further raise awareness of the brand worldwide.
REV declares it’s successfully turned around other companies it’s launched as online brands. The Wall Street Journal reported that Dressbarn more than doubled its revenue 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 looking to grab tech fundamentals. REV didn’t say whether those RadioShack licenses would stick around. Radioshack San Luis Obispo
REV states it will “soon relaunch” RadioShack’s website. So for those of you still clinging on to fond memories of the shop, there’ll be a familiar adequate location to go when you wish to buy expensive HDMI cables and knockoff earphones.