Fortunately is that since today RadioShack. Earbud Foam Covers Radioshack… has actually formally been acquired by Retail Ecommerce Ventures (REV), offering the distressed company a new lease on life. The disadvantage, at least for folks like us, is that there are no instant plans to return the renowned electronic devices seller to its brick-and-mortar roots. As the name implies, REV focuses on online retail, having actually previously revamped the Web existence of other insolvent services such as Pier 1 Imports and Dressbarn.
While the press release does not straight-out preclude the possibility of 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 further lockdowns in response to the continuing COVID-19 pandemic, it’s tough to disagree. There will be countless bored kids and adults looking for something to do during the long winter season nights, and an electronic set or two delivered to their door might be just the thing.
REV says they prepare to relaunch the rather dated RadioShack site in the nick of time for the business’s 100th anniversary in 2021. Since this writing the site currently states that sales have actually been momentarily stopped to allow for stock restructuring, though it’s uncertain if this is straight related to the buyout or not. Getting an accurate count of just how much product the business still has on hand after shuttering the majority of their physical locations in 2017 definitely sounds like something the brand-new owners would want to do.
We all understand how that story ended.
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 retailer as an online-focused brand name.
The shop’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 as well, consisting of Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV says RadioShack’s site already has “strong existing sales and sales potential,” and the business is “positive” it can further raise awareness of the brand internationally.
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 earnings between the second and very first quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anyone looking to get tech basics. For a long time, that indicated real radio components, but wound up including lots of electronic toys (one Edge editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined significantly as online shopping arrived, and the business declared bankruptcy twice in the past five years. RadioShack still licenses its name to third-party “licensed” shops and sells top quality items within some locations of HobbyTown, a crafts merchant– similar to how you can still find “Sharper Image” items at Kohl’s despite the fact that that merchant shut its physical doors over a decade ago. REV didn’t state whether those RadioShack licenses would stick around. Earbud Foam Covers Radioshack
REV says it will “soon relaunch” RadioShack’s site. For those of you still sticking on to fond memories of the shop, there’ll be a familiar enough location to go when you want to buy expensive HDMI cable televisions and knockoff headphones.