Fortunately is that since today RadioShack. Ferrite Coil Radioshack… has officially been acquired by Retail Ecommerce Ventures (REV), giving the struggling company a new lease on life. The disadvantage, a minimum of for folks like us, is that there are no immediate strategies to return the iconic electronic devices seller to its brick-and-mortar roots. As the name implies, REV concentrates on online retail, having actually previously revamped the Web existence of other bankrupt services such as Pier 1 Imports and Dressbarn.
While the press release doesn’t outright prevent the possibility of brand-new physical RadioShack places, it’s clear that REV thinks the future of retail isn’t to be discovered in your local strip mall. As the US mulls even more lockdowns in reaction to the continuing COVID-19 pandemic, it’s hard to disagree. There will be millions of bored kids and adults looking for something to do during the long winter season nights, and an electronic set or more delivered to their door might be just the thing.
REV says they plan to relaunch the rather outdated RadioShack site just in time for the business’s 100th anniversary in 2021. As of this writing the site presently states that sales have been temporarily stopped to permit inventory restructuring, though it’s uncertain if this is straight related to the buyout or not. Getting a precise count of how much merchandise the company still has on hand after shuttering most of their physical locations in 2017 certainly seems like something the brand-new owners would want to do.
Like the majority of you, we have fond memories of the Golden era of RadioShack, back prior to they thought offering tvs and phones was in some way an excellent concept. To their credit, they did attempt and revive their relationship with hackers and makers by asking the community what they ‘d want to see in their shops. We all understand how that story ended. While it doesn’t look like this news will get us any closer to having a neighborhood store that stocks resistors, there’s a specific convenience in understanding that RadioShack books and packages 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 prepares to relaunch the once-great seller as an online-focused brand.
The shop’s remains were acquired by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brand names from other faded retail giants also, including Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV says RadioShack’s site already has “strong existing sales and sales potential,” and the company is “positive” it can further raise awareness of the brand name worldwide.
REV declares it’s effectively turned around other companies it’s released as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its revenue in between the very first and second quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anybody seeking to grab tech fundamentals. For a long period of time, that implied actual radio elements, but wound up including lots of electronic toys (one Brink editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined greatly as online shopping arrived, and the company filed for insolvency twice in the past 5 years. RadioShack still licenses its name to third-party “licensed” stores and offers branded items within some places of HobbyTown, a crafts merchant– comparable to how you can still find “Sharper Image” items at Kohl’s although that merchant shut its physical doors over a years ago. REV didn’t say whether those RadioShack licenses would stay. Ferrite Coil Radioshack
REV says 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 location to go when you want to purchase overpriced HDMI cable televisions and knockoff earphones.