The good news is that since today RadioShack. Radioshack Sucursales… has formally been bought by Retail Ecommerce Ventures (REV), providing the struggling company a brand-new lease on life. The downside, a minimum of for folks like us, is that there are no immediate plans to return the iconic electronic devices seller to its brick-and-mortar roots. As the name suggests, REV specializes in online retail, having formerly revamped the Internet presence of other insolvent businesses such as Pier 1 Imports and Dressbarn.
While the press release doesn’t outright preclude the possibility of new physical RadioShack places, it’s clear that REV believes the future of retail isn’t to be found in your local strip mall. As the US mulls further lockdowns in action to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be countless bored kids and adults looking for something to do during the long winter season nights, and an electronic package or two delivered to their door might be just the thing.
REV states they plan to relaunch the rather dated RadioShack site in the nick of time for the business’s 100th anniversary in 2021. As of this composing the site presently states that sales have been momentarily stopped to permit 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 most of their physical places in 2017 certainly sounds like something the new owners would wish to do.
We all know how that story ended.
RadioShack’s shambling remains were provided another jolt of life today when they were bought by another company that plans to relaunch the once-great retailer as an online-focused brand name.
The store’s remains were acquired 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, consisting of Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV says RadioShack’s site currently 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 companies it’s introduced as online brands. The Wall Street Journal reported that Dressbarn more than doubled its profits in between the very first and second quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anyone wanting to grab tech fundamentals. For a long period of time, that indicated real radio components, however wound up consisting of lots of electronic toys (one Verge editor fondly remembers his Armatron) and eventually phones. Its fortunes declined greatly as online shopping arrived, and the company filed for bankruptcy two times in the past five years. RadioShack still certifies its name to third-party “licensed” shops and sells branded products within some places of HobbyTown, a crafts retailer– similar to how you can still discover “Sharper Image” products at Kohl’s despite the fact that that merchant shut its physical doors over a decade back. REV didn’t state whether those RadioShack licenses would stay. Radioshack Sucursales
REV says it will “quickly relaunch” RadioShack’s website. So for those of you still sticking on to fond memories of the shop, there’ll be a familiar enough location to go when you wish to purchase overpriced HDMI cable televisions and knockoff earphones.