Fortunately is that since today RadioShack. Who Besides Radioshack Installs Watch Batteries… has actually formally been bought by Retail Ecommerce Ventures (REV), offering the troubled company a brand-new lease on life. The drawback, at least for folks like us, is that there are no instant strategies to return the iconic electronics seller to its brick-and-mortar roots. As the name suggests, REV concentrates on online retail, having actually previously revamped the Internet presence of other insolvent companies such as Pier 1 Imports and Dressbarn.
While the press release doesn’t straight-out preclude the possibility of brand-new physical RadioShack locations, it’s clear that REV thinks the future of retail isn’t to be found in your local strip mall. 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 searching for something to do throughout the long winter season nights, and an electronic package or 2 shipped to their door might be just the important things.
REV says they prepare to relaunch the rather dated RadioShack website just in time for the company’s 100th anniversary in 2021. As of this writing the site currently states that sales have been temporarily halted to allow for inventory restructuring, though it’s unclear if this is directly related to the buyout or not. Getting a precise count of just how much product the business still has on hand after shuttering the majority of their physical locations in 2017 definitely 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 before they thought selling phones and TVs was somehow a great idea. To their credit, they did try 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 doesn’t look like this news will get us any closer to having an area shop that stocks resistors, there’s a certain convenience in understanding that RadioShack sets and books will still be around for the next generation.
RadioShack’s shambling remains were provided another jolt of life today when they were acquired by another business that plans to relaunch the once-great retailer as an online-focused brand.
The store’s remains were bought by Retail Ecommerce Ventures (REV), a startup 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 states RadioShack’s site currently has “strong existing sales and sales capacity,” and the business is “positive” 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 very first quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anybody looking to get tech basics. REV didn’t say whether those RadioShack licenses would stick around. Who Besides Radioshack Installs Watch Batteries
REV states it will “soon relaunch” RadioShack’s website. For those of you still clinging on to fond memories of the store, there’ll be a familiar adequate place to go when you desire to buy expensive HDMI cable televisions and knockoff headphones.