The good news is that since today RadioShack. Xbox One Radioshack… has actually officially been purchased by Retail Ecommerce Ventures (REV), giving the struggling company a new lease on life. The drawback, a minimum of for folks like us, is that there are no immediate plans to return the iconic electronic devices retailer to its brick-and-mortar roots. As the name suggests, REV focuses on online retail, having actually formerly revamped the Internet existence of other insolvent companies such as Pier 1 Imports and Dressbarn.
While journalism release does not outright preclude the possibility of brand-new physical RadioShack areas, it’s clear that REV thinks the future of retail isn’t to be discovered in your local shopping center. As the US mulls further lockdowns in action to the continuing COVID-19 pandemic, it’s tough to disagree. There will be millions of bored kids and adults searching for something to do during the long winter nights, and an electronic kit or two delivered to their door might be simply the important things.
REV says they prepare to relaunch the rather dated RadioShack site in the nick of time for the company’s 100th anniversary in 2021. As of this composing the site currently says that sales have been briefly halted to enable stock restructuring, though it’s unclear if this is straight related to the buyout or not. Getting an accurate count of just how much merchandise the business still has on hand after shuttering most of their physical places in 2017 certainly seems like something the new owners would want to do.
Like the majority of you, we have fond memories of the Golden era of RadioShack, back before they believed offering televisions and phones was somehow a great idea. To their credit, they did attempt and rekindle their relationship with hackers and makers by asking the community what they ‘d wish to see in their stores. However all of us understand how that story ended. While it does not look like this news will get us any closer to having a community store that stocks resistors, there’s a particular convenience in knowing that RadioShack kits and books will still be around for the next generation.
RadioShack’s shambling remains were provided another shock of life today when they were acquired by another business that plans to relaunch the once-great seller as an online-focused brand.
The store’s remains were acquired by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brands from other faded retail giants also, consisting of Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV says RadioShack’s site already has “strong existing sales and sales capacity,” and the company is “positive” it can even more raise awareness of the brand globally.
REV declares it’s successfully reversed other business it’s launched as online brands. The Wall Street Journal reported that Dressbarn more than doubled its income in between the very first and 2nd quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anybody aiming to grab tech essentials. For a long period of time, that indicated actual radio parts, however wound up consisting of lots of electronic toys (one Verge editor fondly remembers his Armatron) and eventually phones. Its fortunes declined significantly as online shopping got here, and the company filed for bankruptcy twice in the past 5 years. RadioShack still certifies its name to third-party “licensed” shops and sells branded items within some places of HobbyTown, a crafts merchant– similar to how you can still discover “Sharper Image” products at Kohl’s even though that retailer shut its physical doors over a years back. REV didn’t say whether those RadioShack licenses would stick around. Xbox One Radioshack
REV states it will “quickly relaunch” RadioShack’s website. So for those of you still sticking on to fond memories of the shop, there’ll be a familiar enough location to go when you wish to buy expensive HDMI cable televisions and knockoff headphones.