The good news is that since today RadioShack. Can Radioshack Survive… has actually officially been purchased by Retail Ecommerce Ventures (REV), providing the distressed 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 renowned electronics merchant to its brick-and-mortar roots. As the name implies, REV specializes in online retail, having actually formerly revamped the Internet existence of other insolvent businesses such as Pier 1 Imports and Dressbarn.
While journalism release does not straight-out prevent the possibility of brand-new physical RadioShack places, 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 even more lockdowns in reaction to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be countless bored kids and grownups trying to find something to do during the long winter nights, and an electronic package or 2 shipped to their door might be just the important things.
REV states they plan to relaunch the rather dated RadioShack site in the nick of time for the company’s 100th anniversary in 2021. Since this writing the site currently says that sales have actually been temporarily stopped to enable stock restructuring, though it’s uncertain if this is directly related to the buyout or not. Getting an accurate count of just how much merchandise the company still has on hand after shuttering most of their physical areas in 2017 certainly seems like something the brand-new owners would wish to do.
Like the majority of you, we have fond memories of the Golden Age of RadioShack, back prior to they believed selling phones and TVs was in some way a good concept. To their credit, they did try and rekindle their relationship with hackers and makers by asking the community what they ‘d wish to see in their shops. But we all know how that story ended. While it does not appear like this news will get us any closer to having an area store that stocks resistors, there’s a particular convenience in understanding that RadioShack packages and books will still be around for the next generation.
RadioShack’s shambling remains were offered 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, including Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV states RadioShack’s site currently has “strong existing sales and sales capacity,” and the company is “positive” it can even more raise awareness of the brand worldwide.
REV declares it’s successfully turned around other companies it’s introduced 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 became a retail staple in the ’80s and ’90s for anyone looking to grab tech fundamentals. REV didn’t say whether those RadioShack licenses would stick around. Can Radioshack Survive
REV says it will “soon relaunch” RadioShack’s site. For those of you still clinging on to fond memories of the shop, there’ll be a familiar enough location to go when you want to purchase expensive HDMI cable televisions and knockoff headphones.