Fortunately is that since today RadioShack. Is Radioshack Open Online… has actually officially been acquired by Retail Ecommerce Ventures (REV), offering the struggling company a new lease on life. The downside, a minimum of for folks like us, is that there are no immediate plans to return the iconic electronic devices retailer to its brick-and-mortar roots. As the name indicates, REV specializes in online retail, having formerly revamped the Internet presence of other bankrupt organizations such as Pier 1 Imports and Dressbarn.
While the press release does not outright preclude the possibility of brand-new physical RadioShack locations, 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 reaction to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be countless bored kids and grownups searching for something to do during the long winter nights, and an electronic package or two shipped to their door might be just the important things.
REV states they prepare to relaunch the rather outdated RadioShack site in the nick of time for the company’s 100th anniversary in 2021. As of this writing the site presently says that sales have actually 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 how much merchandise the business still has on hand after shuttering most of their physical areas in 2017 definitely sounds like something the new owners would wish to do.
Like most of you, we have fond memories of the Golden Age of RadioShack, back prior to they thought selling phones and Televisions was in some way an excellent concept. To their credit, they did attempt and rekindle their relationship with hackers and makers by asking the community what they ‘d wish to see in their shops. We all know how that story ended. While it doesn’t look like this news will get us any closer to having an area shop that stocks resistors, there’s a particular comfort in understanding that RadioShack packages and books will still be around for the next generation.
RadioShack’s shambling remains were given another shock of life today when they were purchased by another business that plans to relaunch the once-great retailer as an online-focused brand name.
The store’s remains were acquired 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 Product, Dressbarn, and more. REV states RadioShack’s site already has “strong existing sales and sales potential,” and the business is “positive” it can further raise awareness of the brand name worldwide.
REV claims it’s effectively reversed other companies it’s launched as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its profits in between the very first and second quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anybody wanting to grab tech basics. For a very long time, that meant real radio parts, but wound up consisting of lots of electronic toys (one Brink editor fondly remembers his Armatron) and eventually phones. Its fortunes declined significantly as online shopping showed up, and the company declared personal bankruptcy twice in the past five years. RadioShack still certifies its name to third-party “licensed” shops and offers branded items within some areas of HobbyTown, a crafts seller– similar to how you can still find “Sharper Image” items at Kohl’s even though that retailer shut its physical doors over a decade earlier. REV didn’t state whether those RadioShack licenses would stay. Is Radioshack Open Online
REV states it will “soon relaunch” RadioShack’s website. So for those of you still sticking on to fond memories of the shop, there’ll be a familiar sufficient place to go when you want to purchase expensive HDMI cables and knockoff earphones.