The bright side is that since today RadioShack. Radioshack Sirius Xm Radios… has actually officially been acquired by Retail Ecommerce Ventures (REV), providing the troubled company a new lease on life. The downside, at least for folks like us, is that there are no immediate strategies to return the renowned electronic devices merchant to its brick-and-mortar roots. As the name suggests, REV concentrates on online retail, having previously revamped the Web existence of other insolvent services such as Pier 1 Imports and Dressbarn.
While the press release doesn’t straight-out preclude the possibility of new physical RadioShack areas, it’s clear that REV thinks the future of retail isn’t to be discovered in your local shopping center. As the United States mulls even more lockdowns in action to the continuing COVID-19 pandemic, it’s hard to disagree. There will be millions of bored kids and grownups trying to find something to do throughout the long winter season nights, and an electronic set or 2 shipped to their door might be simply the thing.
REV states they plan to relaunch the rather outdated RadioShack site just in time for the company’s 100th anniversary in 2021. As of this composing the site presently says that sales have been briefly stopped to allow for 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 the majority of their physical locations in 2017 definitely seems like something the brand-new owners would wish to do.
Like most of you, we have fond memories of the Golden Age of RadioShack, back prior to they believed selling tvs and phones was somehow a good concept. To their credit, they did try and rekindle their relationship with hackers and makers by asking the community what they ‘d want to see in their shops. We all know how that story ended. While it doesn’t appear like this news will get us any closer to having an area store that stocks resistors, there’s a certain comfort in understanding that RadioShack packages and books will still be around for the next generation.
RadioShack’s shambling remains were offered another shock of life today when they were bought by another company that plans to relaunch the once-great merchant 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 brand names from other faded retail giants as well, including Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV says RadioShack’s site currently has “strong existing sales and sales potential,” and the company is “confident” it can further raise awareness of the brand internationally.
REV claims it’s effectively reversed other business it’s introduced as online brands. The Wall Street Journal reported that Dressbarn more than doubled its earnings in between the second and very first 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. For a long time, that indicated real radio parts, however ended up consisting of great deals of electronic toys (one Edge editor fondly remembers his Armatron) and eventually phones. Its fortunes decreased vastly as online shopping arrived, and the business applied for insolvency twice in the past 5 years. RadioShack still accredits its name to third-party “authorized” shops and sells top quality items within some places of HobbyTown, a crafts retailer– comparable to how you can still discover “Sharper Image” products at Kohl’s although that retailer shut its physical doors over a years earlier. REV didn’t state whether those RadioShack licenses would remain. Radioshack Sirius Xm Radios
REV says it will “quickly relaunch” RadioShack’s site. So for those of you still sticking on to fond memories of the shop, there’ll be a familiar enough place to go when you want to buy costly HDMI cable televisions and knockoff headphones.