The good news is that since today RadioShack. Will Radioshack Buy My Phone… has officially been acquired by Retail Ecommerce Ventures (REV), offering the troubled business a brand-new lease on life. The drawback, at least for folks like us, is that there are no instant strategies to return the renowned electronic devices merchant to its brick-and-mortar roots. As the name suggests, REV focuses on online retail, having previously revamped the Web existence of other insolvent organizations such as Pier 1 Imports and Dressbarn.
While the press release does not outright preclude the possibility of new physical RadioShack locations, it’s clear that REV thinks the future of retail isn’t to be found in your local shopping center. As the US mulls further lockdowns in reaction to the continuing COVID-19 pandemic, it’s difficult 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 package or two shipped to their door might be just the thing.
REV says they plan to relaunch the rather dated RadioShack site just in time for the business’s 100th anniversary in 2021. As of this writing the site currently says that sales have been momentarily stopped to allow for stock restructuring, though it’s unclear if this is directly related to the buyout or not. Getting an accurate count of just how much product the company still has on hand after shuttering the majority of their physical areas in 2017 definitely seems like something the brand-new owners would want to do.
We all know how that story ended.
RadioShack’s shambling remains were given another jolt of life today when they were purchased by another business that plans to relaunch the once-great seller 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 brands from other faded retail giants also, 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 globally.
REV claims it’s effectively turned around other business it’s released as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its revenue in between the first and 2nd quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anybody seeking to get tech essentials. For a long period of time, that indicated real radio components, however ended up consisting of lots of electronic toys (one Edge editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined vastly as online shopping got here, and the business applied for insolvency two times in the past five years. RadioShack still licenses its name to third-party “authorized” stores and offers top quality products within some locations of HobbyTown, a crafts seller– similar to how you can still find “Sharper Image” products at Kohl’s despite the fact that that merchant shut its physical doors over a decade back. REV didn’t say whether those RadioShack licenses would stick around. Will Radioshack Buy My Phone
REV states it will “quickly relaunch” RadioShack’s site. So for those of you still sticking on to fond memories of the store, there’ll be a familiar adequate place to go when you wish to purchase expensive HDMI cables and knockoff headphones.