The good news is that since today RadioShack. Innovative Electronics – Radioshack… has actually officially been acquired by Retail Ecommerce Ventures (REV), offering the distressed company a brand-new lease on life. The disadvantage, at least for folks like us, is that there are no immediate strategies to return the renowned electronics seller to its brick-and-mortar roots. As the name implies, REV specializes in online retail, having actually previously revamped the Internet existence of other insolvent services such as Pier 1 Imports and Dressbarn.
While the press release doesn’t outright prevent the possibility of brand-new physical RadioShack locations, it’s clear that REV believes the future of retail isn’t to be discovered in your local strip mall. As the US mulls even more lockdowns in action to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be millions of bored kids and adults looking for something to do throughout the long winter nights, and an electronic kit or more shipped to their door might be simply the important things.
REV states they prepare to relaunch the rather outdated RadioShack website just in time for the business’s 100th anniversary in 2021. As of this writing the site currently states that sales have been temporarily halted to allow for inventory restructuring, though it’s unclear if this is directly related to the buyout or not. Getting a precise count of just how much product the company still has on hand after shuttering most of their physical areas in 2017 definitely sounds like something the new owners would wish to do.
We all understand how that story ended.
RadioShack’s shambling remains were offered another jolt of life today when they were acquired by another business 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 start-up founded in 2019 that’s been scooping up brand names from other faded retail giants also, consisting of Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV states RadioShack’s site currently has “strong existing sales and sales potential,” and the company is “positive” it can further raise awareness of the brand globally.
REV claims it’s successfully 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 second and very first quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anybody looking to get tech basics. REV didn’t state whether those RadioShack licenses would stick around. Innovative Electronics – Radioshack
REV states it will “quickly relaunch” RadioShack’s site. So for those of you still sticking on to fond memories of the shop, there’ll be a familiar enough place to go when you wish to purchase overpriced HDMI cable televisions and knockoff earphones.