The good news is that as of today RadioShack. Vox Radioshack… has officially been purchased by Retail Ecommerce Ventures (REV), giving the distressed business a brand-new lease on life. The disadvantage, a minimum of for folks like us, is that there are no immediate plans to return the renowned electronics seller to its brick-and-mortar roots. As the name suggests, REV specializes in online retail, having previously revamped the Internet existence of other bankrupt companies 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 believes the future of retail isn’t to be found in your local shopping center. As the US mulls even more lockdowns in response to the continuing COVID-19 pandemic, it’s tough to disagree. There will be countless bored kids and adults trying to find something to do throughout the long winter season nights, and an electronic kit or more shipped to their door might be simply the important things.
REV says they plan to relaunch the rather outdated RadioShack website in the nick of time for the company’s 100th anniversary in 2021. As of this composing the site currently states that sales have actually been briefly halted to enable inventory restructuring, though it’s unclear if this is straight related to the buyout or not. Getting an accurate count of just how much product the business still has on hand after shuttering the majority of their physical places in 2017 certainly seems 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 offering televisions and phones was in some way a good idea. To their credit, they did try and revive their relationship with hackers and makers by asking the community what they ‘d want to see in their shops. But all of us know how that story ended. While it doesn’t look like this news will get us any closer to having a community shop that stocks resistors, there’s a specific convenience in knowing that RadioShack packages and books will still be around for the next generation.
RadioShack’s shambling remains were given another jolt of life today when they were bought by another business that plans to relaunch the once-great seller as an online-focused brand.
The shop’s remains were bought by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brands from other faded retail giants too, including Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV states RadioShack’s website already has “strong existing sales and sales capacity,” and the company is “confident” it can further raise awareness of the brand internationally.
REV claims it’s effectively reversed other business it’s launched as online brands. 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 ended up being a retail staple in the ’80s and ’90s for anyone looking to get tech fundamentals. For a long period of time, that indicated real radio parts, however ended up consisting of great deals of electronic toys (one Brink editor fondly remembers his Armatron) and eventually phones. Its fortunes decreased vastly as online shopping arrived, and the company filed for insolvency two times in the past 5 years. RadioShack still accredits its name to third-party “licensed” shops and offers branded items within some areas of HobbyTown, a crafts retailer– comparable to how you can still discover “Sharper Image” items at Kohl’s although that merchant shut its physical doors over a years earlier. REV didn’t state whether those RadioShack licenses would stick around. Vox Radioshack
REV says it will “quickly relaunch” RadioShack’s website. For those of you still clinging on to fond memories of the store, there’ll be a familiar enough location to go when you want to buy pricey HDMI cables and knockoff earphones.