The bright side is that since today RadioShack. Do I Have To Change My Radioshack Phone Plan… has formally been acquired by Retail Ecommerce Ventures (REV), giving the troubled company a new lease on life. The downside, a minimum of 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 indicates, REV concentrates on online retail, having previously revamped the Internet existence of other bankrupt organizations such as Pier 1 Imports and Dressbarn.
While the press 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 regional shopping center. As the US mulls even more lockdowns in action to the continuing COVID-19 pandemic, it’s hard to disagree. There will be millions of bored kids and grownups looking for something to do throughout the long winter nights, and an electronic package or two delivered to their door might be simply the thing.
REV states they plan to relaunch the rather outdated RadioShack website just in time for the business’s 100th anniversary in 2021. Since this composing the site currently says that sales have actually been momentarily halted to permit inventory 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 business still has on hand after shuttering most of their physical areas in 2017 definitely 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 offering televisions and phones was somehow an excellent concept. To their credit, they did attempt and revive their relationship with hackers and makers by asking the neighborhood what they ‘d wish to see in their shops. We all understand how that story ended. While it does not appear 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 books and sets will still be around for the next generation.
RadioShack’s shambling remains were offered another shock of life today when they were bought by another company that prepares to relaunch the once-great merchant as an online-focused brand.
The store’s remains were purchased by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brand names from other faded retail giants too, consisting of Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV says RadioShack’s website already has “strong existing sales and sales potential,” and the business is “positive” it can further raise awareness of the brand name internationally.
REV claims it’s effectively reversed other companies it’s released as online brands. The Wall Street Journal reported that Dressbarn more than doubled its profits between the first and second quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anybody aiming to get tech basics. For a long period of time, that implied real radio components, but wound up consisting of great deals of electronic toys (one Brink editor fondly remembers his Armatron) and eventually phones. Its fortunes declined greatly as online shopping got here, and the business declared insolvency twice in the past 5 years. RadioShack still certifies its name to third-party “licensed” stores and offers branded products within some areas of HobbyTown, a crafts seller– comparable to how you can still discover “Sharper Image” products at Kohl’s even though that retailer shut its physical doors over a decade ago. REV didn’t state whether those RadioShack licenses would stay. Do I Have To Change My Radioshack Phone Plan
REV states it will “quickly relaunch” RadioShack’s site. For those of you still sticking on to fond memories of the shop, there’ll be a familiar adequate place to go when you want to purchase pricey HDMI cables and knockoff earphones.