The good news is that since today RadioShack. Support Radioshack Com… has officially been bought by Retail Ecommerce Ventures (REV), giving the struggling 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 renowned electronics retailer to its brick-and-mortar roots. As the name suggests, REV specializes in online retail, having actually formerly revamped the Internet presence of other insolvent companies such as Pier 1 Imports and Dressbarn.
While the press release does not straight-out preclude the possibility of new physical RadioShack locations, it’s clear that REV believes the future of retail isn’t to be found in your regional shopping center. 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 looking for something to do during the long winter nights, and an electronic package or 2 shipped to their door might be simply the important things.
REV states they plan to relaunch the rather outdated RadioShack site just in time for the company’s 100th anniversary in 2021. As of this writing the site currently states that sales have been momentarily halted to enable stock restructuring, though it’s unclear if this is straight related to the buyout or not. Getting a precise count of how much merchandise the business still has on hand after shuttering the majority of their physical areas in 2017 certainly sounds like something the new owners would wish to do.
We all understand how that story ended.
RadioShack’s shambling remains were offered 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 name.
The shop’s remains were purchased 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 business is “confident” it can further raise awareness of the brand name internationally.
REV declares it’s effectively 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 ended up being a retail staple in the ’80s and ’90s for anybody wanting to grab tech essentials. For a very long time, that indicated actual 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 personal bankruptcy two times in the past five years. RadioShack still accredits its name to third-party “licensed” shops and offers top quality products within some locations of HobbyTown, a crafts retailer– comparable to how you can still find “Sharper Image” items at Kohl’s although that merchant shut its physical doors over a decade back. REV didn’t state whether those RadioShack licenses would stay. Support Radioshack Com
REV states it will “quickly relaunch” RadioShack’s site. So for those of you still clinging on to fond memories of the store, there’ll be a familiar enough place to go when you wish to purchase costly HDMI cable televisions and knockoff earphones.