The good news is that as of today RadioShack. Robie Bank Radioshack… has formally been acquired by Retail Ecommerce Ventures (REV), providing the distressed business a brand-new lease on life. The drawback, 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 implies, REV focuses on online retail, having formerly revamped the Web presence of other insolvent services such as Pier 1 Imports and Dressbarn.
While journalism release does not outright 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 further lockdowns in action to the continuing COVID-19 pandemic, it’s hard to disagree. There will be millions of bored kids and grownups searching for something to do during the long winter season nights, and an electronic set or 2 shipped to their door might be simply the thing.
REV says 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 writing the website currently states that sales have actually been briefly halted to permit inventory restructuring, though it’s unclear if this is straight 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 locations in 2017 definitely sounds like something the new owners would want to do.
Like most of you, we have fond memories of the Golden era of RadioShack, back before they believed selling phones and TVs was in some way a great idea. To their credit, they did attempt and rekindle their relationship with hackers and makers by asking the community what they ‘d wish to see in their shops. We all understand how that story ended. While it does not look like this news will get us any closer to having an area shop that stocks resistors, there’s a particular convenience in understanding that RadioShack sets and books will still be around for the next generation.
RadioShack’s shambling remains were provided another jolt of life today when they were purchased by another business that plans to relaunch the once-great retailer as an online-focused brand.
The shop’s remains were acquired 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 says RadioShack’s site currently has “strong existing sales and sales potential,” and the business is “confident” it can further raise awareness of the brand name internationally.
REV claims it’s successfully turned around other companies it’s released as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its revenue 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 essentials. For a long time, that suggested real radio parts, but wound up including lots of electronic toys (one Edge editor fondly remembers his Armatron) and eventually phones. Its fortunes decreased greatly as online shopping showed up, and the business applied for bankruptcy two times in the past 5 years. RadioShack still certifies its name to third-party “authorized” shops and offers top quality products within some areas of HobbyTown, a crafts retailer– comparable to how you can still find “Sharper Image” items at Kohl’s even though that merchant shut its physical doors over a years ago. REV didn’t say whether those RadioShack licenses would remain. Robie Bank Radioshack
REV states it will “soon relaunch” RadioShack’s website. For those of you still sticking on to fond memories of the store, there’ll be a familiar adequate place to go when you desire to buy overpriced HDMI cables and knockoff earphones.