The bright side is that as of today RadioShack. Radioshack Vlf… has actually officially been acquired by Retail Ecommerce Ventures (REV), offering the struggling company a new lease on life. The disadvantage, a minimum of for folks like us, is that there are no immediate strategies to return the renowned electronic devices seller to its brick-and-mortar roots. As the name indicates, REV focuses on online retail, having previously revamped the Internet existence of other insolvent services such as Pier 1 Imports and Dressbarn.
While journalism release does not outright preclude the possibility of brand-new physical RadioShack locations, it’s clear that REV thinks the future of retail isn’t to be found in your regional strip mall. 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 adults searching for something to do throughout the long winter season nights, and an electronic kit or two shipped to their door might be just the thing.
REV states they plan to relaunch the rather dated RadioShack website just in time for the business’s 100th anniversary in 2021. Since this writing the website currently states that sales have been temporarily halted 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 the majority of you, we have fond memories of the Golden era of RadioShack, back before they thought offering tvs and phones was in some way a good idea. To their credit, they did try and rekindle their relationship with hackers and makers by asking the neighborhood what they ‘d want to see in their stores. But we all understand how that story ended. While it doesn’t appear like this news will get us any closer to having a neighborhood store that stocks resistors, there’s a specific convenience in understanding that RadioShack packages and books will still be around for the next generation.
RadioShack’s shambling remains were provided another shock of life today when they were bought by another company that prepares 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 brands from other faded retail giants also, including Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV says RadioShack’s website currently has “strong existing sales and sales potential,” and the company is “positive” it can further raise awareness of the brand globally.
REV claims it’s effectively reversed other companies it’s released as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its earnings 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 anyone looking to get tech fundamentals. REV didn’t state whether those RadioShack licenses would stick around. Radioshack Vlf
REV says it will “quickly relaunch” RadioShack’s site. So for those of you still sticking on to fond memories of the store, there’ll be a familiar sufficient place to go when you wish to purchase overpriced HDMI cable televisions and knockoff earphones.