The good news is that since today RadioShack. Leopard Trek Radioshack… has formally been purchased by Retail Ecommerce Ventures (REV), giving the troubled business a brand-new lease on life. The disadvantage, a minimum of for folks like us, is that there are no immediate plans to return the renowned electronics merchant to its brick-and-mortar roots. As the name implies, REV specializes in online retail, having previously revamped the Web presence of other bankrupt services such as Pier 1 Imports and Dressbarn.
While the press release doesn’t straight-out preclude the possibility of new physical RadioShack locations, it’s clear that REV thinks the future of retail isn’t to be found in your local shopping center. As the US mulls even more lockdowns in reaction to the continuing COVID-19 pandemic, it’s tough to disagree. There will be millions of bored kids and grownups trying to find something to do during the long winter nights, and an electronic set or 2 delivered to their door might be just 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REV states they prepare to relaunch the rather outdated RadioShack website just in time for the business’s 100th anniversary in 2021.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 composing the website currently states that sales have been temporarily stopped to enable stock restructuring, though it’s unclear if this is directly related to the buyout or not. Getting an accurate count of how much product the company still has on hand after shuttering most of their physical locations in 2017 definitely sounds like something the brand-new owners would want to do.
Like most of you, we have fond memories of the Golden era of RadioShack, back before they thought selling phones and TVs was somehow a good concept. To their credit, they did attempt and revive their relationship with hackers and makers by asking the neighborhood what they ‘d want to see in their shops. But all of us know how that story ended. While it doesn’t look like this news will get us any closer to having an area store that stocks resistors, there’s a certain comfort in understanding that RadioShack sets and books will still be around for the next generation.
RadioShack’s shambling remains were given another shock of life today when they were bought by another company that prepares to relaunch the once-great seller as an online-focused brand name.
The shop’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 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 “confident” it can further raise awareness of the brand globally.
REV declares it’s effectively turned around other business it’s launched as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its profits between the second and first quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anyone looking to get tech fundamentals. REV didn’t say whether those RadioShack licenses would stick around. Leopard Trek Radioshack
REV states it will “soon relaunch” RadioShack’s website. 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 expensive HDMI cable televisions and knockoff earphones.