Fortunately is that since today RadioShack. Radioshack Topeka Ks… has actually officially been bought by Retail Ecommerce Ventures (REV), providing the distressed company a new lease on life. The disadvantage, a minimum of for folks like us, is that there are no instant strategies to return the renowned electronic devices seller to its brick-and-mortar roots. As the name indicates, REV concentrates on online retail, having actually formerly revamped the Internet existence of other bankrupt businesses such as Pier 1 Imports and Dressbarn.
While the press release does not straight-out prevent the possibility of new physical RadioShack areas, 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 reaction to the continuing COVID-19 pandemic, it’s hard to disagree. There will be millions of bored kids and adults trying to find something to do during the long winter nights, and an electronic package or 2 shipped to their door might be just the thing.
REV states they prepare to relaunch the rather dated RadioShack site just in time for the company’s 100th anniversary in 2021. Since this composing the site currently says that sales have been momentarily stopped to allow for stock restructuring, though it’s unclear if this is directly related to the buyout or not. Getting a precise count of how much product the company still has on hand after shuttering the majority of their physical places in 2017 certainly sounds like something the brand-new owners would wish to do.
Like the majority of you, we have fond memories of the Golden era of RadioShack, back before they believed offering phones and Televisions was in some way an excellent idea. To their credit, they did try and rekindle their relationship with hackers and makers by asking the neighborhood what they ‘d wish to see in their stores. We all know how that story ended. While it does not look like this news will get us any closer to having a neighborhood store that stocks resistors, there’s a certain convenience in knowing that RadioShack packages and books will still be around for the next generation.
RadioShack’s shambling remains were given another shock of life today when they were acquired by another company that plans to relaunch the once-great merchant 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 brand names from other faded retail giants as well, consisting of Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV states RadioShack’s website currently has “strong existing sales and sales potential,” and the company is “confident” it can further raise awareness of the brand name globally.
REV declares it’s successfully reversed other companies it’s launched as online brands. The Wall Street Journal reported that Dressbarn more than doubled its revenue in between the second and first quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anybody aiming to grab tech fundamentals. For a long time, that suggested actual radio parts, but ended up including lots of electronic toys (one Verge editor fondly remembers his Armatron) and eventually phones. Its fortunes decreased vastly as online shopping showed up, and the company applied for bankruptcy twice in the past five years. RadioShack still licenses its name to third-party “authorized” stores and sells top quality items within some locations of HobbyTown, a crafts retailer– comparable to how you can still discover “Sharper Image” products at Kohl’s despite the fact that that seller shut its physical doors over a years back. REV didn’t say whether those RadioShack licenses would remain. Radioshack Topeka Ks
REV says 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 enough place to go when you want to buy overpriced HDMI cables and knockoff headphones.