The good news is that as of today RadioShack. Is Radioshack Coming Back… has actually officially been purchased by Retail Ecommerce Ventures (REV), providing the struggling company a new lease on life. The downside, at least for folks like us, is that there are no instant plans to return the renowned electronics retailer to its brick-and-mortar roots. As the name indicates, REV specializes in online retail, having formerly revamped the Internet existence of other insolvent organizations such as Pier 1 Imports and Dressbarn.
While the press release does not straight-out preclude the possibility of new physical RadioShack areas, it’s clear that REV believes the future of retail isn’t to be found in your regional shopping center. As the United States mulls even more lockdowns in response to the continuing COVID-19 pandemic, it’s tough to disagree. There will be countless bored kids and adults trying to find something to do throughout the long winter nights, and an electronic set or two delivered to their door might be simply the thing.
REV states they plan to relaunch the rather dated RadioShack website in the nick of time for the business’s 100th anniversary in 2021. As of this composing the website presently states that sales have actually been temporarily stopped to allow for stock restructuring, though it’s unclear if this is straight related to the buyout or not. Getting an accurate count of how much product the business still has on hand after shuttering the majority of their physical locations in 2017 certainly sounds like something the new owners would want to do.
We all know how that story ended.
RadioShack’s shambling remains were given another shock of life today when they were purchased by another business that prepares to relaunch the once-great merchant as an online-focused brand name.
The store’s remains were bought 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 Product, Dressbarn, and more. REV says RadioShack’s site currently has “strong existing sales and sales capacity,” and the business is “positive” it can even more raise awareness of the brand internationally.
REV claims it’s successfully reversed other companies it’s launched as online brands. The Wall Street Journal reported that Dressbarn more than doubled its revenue between the first and 2nd quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anyone looking to grab tech basics. For a long time, that indicated real radio parts, but wound up including lots of electronic toys (one Verge editor fondly remembers his Armatron) and ultimately phones. Its fortunes decreased greatly as online shopping showed up, and the company applied for bankruptcy twice in the past 5 years. RadioShack still certifies its name to third-party “authorized” shops and offers branded products within some areas of HobbyTown, a crafts merchant– comparable to how you can still find “Sharper Image” products at Kohl’s even though that seller shut its physical doors over a decade earlier. REV didn’t say whether those RadioShack licenses would remain. Is Radioshack Coming Back
REV states 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 sufficient place to go when you desire to buy pricey HDMI cable televisions and knockoff earphones.