The good news is that since today RadioShack. Scanner 085553 Battery/radioshack… has actually officially been acquired by Retail Ecommerce Ventures (REV), providing the troubled company a brand-new lease on life. The downside, a minimum of for folks like us, is that there are no instant strategies to return the iconic electronics retailer to its brick-and-mortar roots. As the name implies, REV focuses on online retail, having formerly revamped the Web existence of other insolvent organizations such as Pier 1 Imports and Dressbarn.
While journalism release doesn’t outright prevent the possibility of brand-new physical RadioShack places, it’s clear that REV thinks the future of retail isn’t to be discovered in your local strip mall. As the US mulls even more lockdowns in reaction 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 throughout the long winter nights, and an electronic kit or 2 delivered to their door might be just the thing.
REV states they prepare to relaunch the rather dated RadioShack site in the nick of time for the company’s 100th anniversary in 2021. Since this composing the website presently states that sales have been momentarily halted 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 product the business still has on hand after shuttering the majority of their physical locations in 2017 certainly seems like something the new owners would want to do.
Like most of you, we have fond memories of the Golden Age of RadioShack, back prior to they believed selling televisions and phones was in some way a good idea. To their credit, they did attempt and rekindle their relationship with hackers and makers by asking the neighborhood what they ‘d want to see in their stores. However 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 particular comfort in knowing that RadioShack sets and books will still be around for the next generation.
RadioShack’s shambling remains were offered another shock of life today when they were purchased by another company that plans to relaunch the once-great retailer as an online-focused brand name.
The store’s remains were purchased 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 states RadioShack’s site already has “strong existing sales and sales capacity,” and the business is “confident” it can even more raise awareness of the brand worldwide.
REV declares it’s successfully reversed other business it’s introduced as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its income in between the first and 2nd quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anybody wanting to get tech essentials. For a very long time, that implied real radio components, but ended up including great deals of electronic toys (one Verge editor fondly remembers his Armatron) and ultimately phones. Its fortunes decreased greatly as online shopping showed up, and the company applied for insolvency twice in the past five years. RadioShack still certifies its name to third-party “licensed” stores and sells branded items within some places of HobbyTown, a crafts retailer– comparable to how you can still discover “Sharper Image” products at Kohl’s although that retailer shut its physical doors over a years earlier. REV didn’t say whether those RadioShack licenses would stay. Scanner 085553 Battery/radioshack
REV states it will “soon relaunch” RadioShack’s website. For those of you still sticking on to fond memories of the shop, there’ll be a familiar sufficient location to go when you desire to buy overpriced HDMI cables and knockoff headphones.