Fortunately is that since today RadioShack. Who Replaced Radioshack… has officially been acquired by Retail Ecommerce Ventures (REV), providing the troubled company a brand-new lease on life. The drawback, at least 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 indicates, REV concentrates on online retail, having actually previously revamped the Web presence of other bankrupt organizations such as Pier 1 Imports and Dressbarn.
While the press release does not outright prevent the possibility of brand-new physical RadioShack locations, it’s clear that REV believes the future of retail isn’t to be found in your local shopping center. As the United States mulls further lockdowns in response to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be millions of bored kids and adults trying to find something to do throughout the long winter season nights, and an electronic set or more delivered to their door might be just the important things.
REV says they plan to relaunch the rather outdated RadioShack site in the nick of time for the company’s 100th anniversary in 2021.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 site currently states that sales have actually been briefly halted to enable stock restructuring, though it’s unclear if this is directly related to the buyout or not. Getting an accurate count of just how much merchandise the business still has on hand after shuttering the majority of their physical places in 2017 definitely sounds like something the brand-new owners would wish to do.
Like the majority of you, we have fond memories of the Golden era of RadioShack, back prior to they believed selling televisions and phones was in some way a great concept. To their credit, they did attempt and rekindle their relationship with hackers and makers by asking the community what they ‘d want to see in their shops. We all know how that story ended. While it doesn’t appear like this news will get us any closer to having a neighborhood store that stocks resistors, there’s a certain comfort in knowing that RadioShack books and packages will still be around for the next generation.
RadioShack’s shambling remains were offered another shock of life today when they were purchased by another business that prepares to relaunch the once-great seller as an online-focused brand.
The store’s remains were acquired 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 Product, Dressbarn, and more. REV states RadioShack’s site currently has “strong existing sales and sales potential,” and the business is “confident” it can further raise awareness of the brand worldwide.
REV declares it’s effectively turned around other business it’s launched as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its income between the first and 2nd quarter of 2020.
RadioShack was established in 1921 and ended up being a retail staple in the ’80s and ’90s for anyone looking to grab tech essentials. REV didn’t state whether those RadioShack licenses would stick around. Who Replaced Radioshack
REV states it will “soon relaunch” RadioShack’s website. For those of you still clinging on to fond memories of the shop, there’ll be a familiar sufficient location to go when you want to buy overpriced HDMI cable televisions and knockoff headphones.