The bright side is that as of today RadioShack. Radioshack Still Open Online… has formally been bought by Retail Ecommerce Ventures (REV), providing the struggling 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 iconic electronic devices retailer to its brick-and-mortar roots. As the name suggests, REV focuses on online retail, having actually formerly revamped the Web existence of other insolvent services such as Pier 1 Imports and Dressbarn.
While the press release does not straight-out preclude the possibility of new physical RadioShack areas, it’s clear that REV believes the future of retail isn’t to be discovered in your regional shopping center. As the United States mulls further lockdowns in action to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be millions of bored kids and adults trying to find something to do throughout the long winter season nights, and an electronic package or 2 delivered to their door might be simply the important things.
REV states they plan to relaunch the rather outdated RadioShack website just in time for the company’s 100th anniversary in 2021. As of this writing the site currently states that sales have actually been briefly stopped to enable inventory restructuring, though it’s uncertain if this is straight related to the buyout or not. Getting a precise count of how much merchandise the business still has on hand after shuttering the majority of their physical places in 2017 certainly sounds like something the brand-new owners would want to do.
We all understand how that story ended.
RadioShack’s shambling remains were offered 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.
The shop’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 as well, consisting of Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV says RadioShack’s site currently has “strong existing sales and sales potential,” and the business is “positive” it can even more raise awareness of the brand name 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 revenue in between the very first and 2nd quarter of 2020.
RadioShack was established in 1921 and ended up being a retail staple in the ’80s and ’90s for anyone looking to get tech fundamentals. REV didn’t say whether those RadioShack licenses would stick around. Radioshack Still Open Online
REV says it will “soon relaunch” RadioShack’s site. So for those of you still sticking on to fond memories of the shop, there’ll be a familiar sufficient place to go when you want to purchase overpriced HDMI cables and knockoff earphones.