The bright side is that since today RadioShack. Radioshack Seattle… has actually officially been acquired by Retail Ecommerce Ventures (REV), providing the troubled company a new lease on life. The drawback, a minimum of for folks like us, is that there are no instant plans to return the renowned electronics retailer to its brick-and-mortar roots. As the name suggests, REV specializes in online retail, having formerly revamped the Internet existence of other insolvent companies such as Pier 1 Imports and Dressbarn.
While journalism release does not outright prevent the possibility of new physical RadioShack locations, it’s clear that REV believes the future of retail isn’t to be discovered in your local shopping center. As the US mulls further lockdowns in action to the continuing COVID-19 pandemic, it’s tough to disagree. There will be millions of bored kids and adults searching for something to do throughout the long winter season nights, and an electronic package or two delivered to their door might be simply the thing.
REV says they prepare to relaunch the rather dated RadioShack website in the nick of time for the company’s 100th anniversary in 2021. Since this composing the website currently states that sales have actually been momentarily halted to allow for inventory restructuring, though it’s unclear if this is straight related to the buyout or not. Getting an accurate count of how much product the business still has on hand after shuttering most 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 given another jolt of life today when they were acquired by another business that prepares to relaunch the once-great seller as an online-focused brand name.
The store’s remains were acquired 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 internationally.
REV declares it’s successfully reversed other business it’s launched as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its revenue in between the 2nd and very first quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anybody seeking to grab tech basics. For a long time, that meant real radio parts, however wound up including lots of electronic toys (one Verge editor fondly remembers his Armatron) and ultimately phones. Its fortunes decreased vastly as online shopping got here, and the business filed for insolvency two times in the past 5 years. RadioShack still certifies its name to third-party “authorized” stores and offers branded items within some areas of HobbyTown, a crafts retailer– comparable to how you can still discover “Sharper Image” items at Kohl’s despite the fact that that retailer shut its physical doors over a decade ago. REV didn’t state whether those RadioShack licenses would stick around. Radioshack Seattle
REV states it will “quickly relaunch” RadioShack’s site. So for those of you still clinging on to fond memories of the store, there’ll be a familiar adequate location to go when you wish to purchase pricey HDMI cables and knockoff earphones.