Fortunately is that since today RadioShack. Is Radioshack Open Back Up… has actually officially been acquired by Retail Ecommerce Ventures (REV), offering the troubled company a brand-new lease on life. The downside, 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 indicates, REV concentrates on online retail, having actually formerly revamped the Web presence of other bankrupt services such as Pier 1 Imports and Dressbarn.
While the press release does not outright preclude the possibility of 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 United States 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 searching for something to do throughout the long winter nights, and an electronic set or 2 shipped to their door might be just the thing.
REV states they prepare to relaunch the rather outdated RadioShack website in the nick of time for the business’s 100th anniversary in 2021. Since this writing the website currently says that sales have been momentarily halted to enable inventory restructuring, though it’s unclear if this is straight related to the buyout or not. Getting an accurate count of just how much merchandise the company still has on hand after shuttering most of their physical areas in 2017 certainly sounds like something the brand-new owners would want to do.
Like most of you, we have fond memories of the Golden Age of RadioShack, back before they thought offering tvs and phones was in some way a great 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 stores. We all know how that story ended. While it does not appear like this news will get us any closer to having an area shop that stocks resistors, there’s a certain comfort in knowing that RadioShack books and kits 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 company that plans to relaunch the once-great seller as an online-focused brand name.
The shop’s remains were bought by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brand names from other faded retail giants also, including Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV says RadioShack’s site currently has “strong existing sales and sales capacity,” and the business is “confident” it can even more raise awareness of the brand globally.
REV claims it’s effectively reversed other business it’s launched as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its revenue between the first and second quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anybody looking to get tech essentials. REV didn’t say whether those RadioShack licenses would stick around. Is Radioshack Open Back Up
REV states it will “quickly relaunch” RadioShack’s site. For those of you still clinging on to fond memories of the store, there’ll be a familiar enough location to go when you desire to purchase pricey HDMI cables and knockoff earphones.