Fortunately is that since today RadioShack. Tape Aux Cord Radioshack… has actually formally been acquired by Retail Ecommerce Ventures (REV), providing the struggling business a brand-new lease on life. The downside, at least 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 suggests, REV specializes in online retail, having actually previously revamped the Internet presence of other bankrupt businesses such as Pier 1 Imports and Dressbarn.
While journalism release does not outright prevent the possibility of new physical RadioShack places, it’s clear that REV believes the future of retail isn’t to be discovered in your regional shopping center. As the US mulls even more lockdowns in action to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be millions of bored kids and adults looking for something to do throughout the long winter season nights, and an electronic set or two shipped to their door might be just the thing.
REV says they plan to relaunch the rather dated RadioShack website just in time for the business’s 100th anniversary in 2021. As of this composing the website presently states that sales have actually been briefly stopped to enable stock restructuring, though it’s unclear if this is directly related to the buyout or not. Getting an accurate count of how much product the company still has on hand after shuttering most of their physical locations in 2017 certainly seems like something the new owners would want to do.
We all understand how that story ended.
RadioShack’s shambling remains were given another jolt of life today when they were bought by another company that prepares to relaunch the once-great merchant as an online-focused brand name.
The store’s remains were bought by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brand names from other faded retail giants too, including Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV says RadioShack’s website currently has “strong existing sales and sales potential,” and the company is “confident” it can further raise awareness of the brand name globally.
REV declares it’s successfully reversed other companies it’s launched as online brands. The Wall Street Journal reported that Dressbarn more than doubled its profits in between the first and second quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anyone seeking to grab tech basics. For a long time, that suggested actual radio elements, but ended up consisting of great deals of electronic toys (one Edge editor fondly remembers his Armatron) and eventually phones. Its fortunes decreased vastly as online shopping got here, and the business applied for bankruptcy twice in the past 5 years. RadioShack still certifies its name to third-party “licensed” shops and sells branded products within some locations of HobbyTown, a crafts seller– similar to how you can still find “Sharper Image” items at Kohl’s although that seller shut its physical doors over a years back. REV didn’t state whether those RadioShack licenses would remain. Tape Aux Cord Radioshack
REV says it will “soon relaunch” RadioShack’s site. For those of you still clinging on to fond memories of the store, there’ll be a familiar sufficient location to go when you desire to buy overpriced HDMI cables and knockoff headphones.