Fortunately is that as of today RadioShack. Sprint Store At Radioshack… has formally been bought by Retail Ecommerce Ventures (REV), giving the troubled 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 electronics merchant to its brick-and-mortar roots. As the name suggests, REV focuses on online retail, having actually formerly revamped the Web presence of other insolvent businesses such as Pier 1 Imports and Dressbarn.
While the press release doesn’t straight-out prevent the possibility of new physical RadioShack places, it’s clear that REV believes the future of retail isn’t to be found in your regional strip mall. As the US mulls even more lockdowns in reaction to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be millions of bored kids and grownups searching for something to do throughout the long winter nights, and an electronic set or more delivered to their door might be simply the thing.
REV states they plan to relaunch the rather outdated RadioShack site in the nick of time for the company’s 100th anniversary in 2021. As of this writing the website presently says that sales have been momentarily halted to allow for 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 most of their physical locations in 2017 certainly sounds like something the new owners would wish to do.
Like most of you, we have fond memories of the Golden Age of RadioShack, back prior to they thought selling phones and Televisions was in some way an excellent idea. To their credit, they did try and revive their relationship with hackers and makers by asking the neighborhood what they ‘d wish to see in their shops. We all understand how that story ended. While it doesn’t appear like this news will get us any closer to having an area store that stocks resistors, there’s a specific convenience in knowing that RadioShack sets and books will still be around for the next generation.
RadioShack’s shambling remains were given 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, including Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV says RadioShack’s site already has “strong existing sales and sales potential,” and the company is “confident” it can even more raise awareness of the brand name internationally.
REV claims it’s effectively reversed other companies it’s released as online brands. The Wall Street Journal reported that Dressbarn more than doubled its profits between the very first and second quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anybody seeking to get tech fundamentals. For a long period of time, that suggested actual radio parts, but wound up including great deals of electronic toys (one Verge editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined vastly as online shopping showed up, and the business applied for personal bankruptcy two times in the past five years. RadioShack still licenses its name to third-party “licensed” shops and offers branded items within some locations of HobbyTown, a crafts seller– similar to how you can still find “Sharper Image” items at Kohl’s despite the fact that that retailer shut its physical doors over a years earlier. REV didn’t say whether those RadioShack licenses would remain. Sprint Store At Radioshack
REV states it will “quickly relaunch” RadioShack’s site. For those of you still clinging on to fond memories of the store, there’ll be a familiar adequate place to go when you want to purchase overpriced HDMI cable televisions and knockoff headphones.