The good news is that since today RadioShack. Radioshack Alternatives… has officially been bought by Retail Ecommerce Ventures (REV), offering the troubled company a new lease on life. The disadvantage, a minimum of for folks like us, is that there are no instant plans to return the iconic electronic devices merchant to its brick-and-mortar roots. As the name implies, REV specializes in online retail, having actually formerly revamped the Internet existence of other bankrupt services such as Pier 1 Imports and Dressbarn.
While the press release doesn’t straight-out prevent the possibility of new physical RadioShack areas, 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 further lockdowns in response to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be millions of bored kids and grownups searching for something to do throughout the long winter season nights, and an electronic package or more shipped to their door might be simply the thing.
REV says they prepare to relaunch the rather dated RadioShack site just in time for the business’s 100th anniversary in 2021. Since this writing the site currently states that sales have actually been temporarily stopped to permit inventory restructuring, though it’s uncertain 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 the majority of their physical areas in 2017 certainly sounds like something the new owners would wish to do.
We all know how that story ended.
RadioShack’s shambling remains were given another jolt of life today when they were purchased by another company that prepares to relaunch the once-great merchant 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 too, consisting of Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV states RadioShack’s website already has “strong existing sales and sales potential,” and the company is “positive” it can even more raise awareness of the brand name worldwide.
REV claims it’s effectively reversed other business it’s launched as online brands. The Wall Street Journal reported that Dressbarn more than doubled its earnings between the second and very 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 essentials. REV didn’t state whether those RadioShack licenses would stick around. Radioshack Alternatives
REV says it will “quickly relaunch” RadioShack’s site. For those of you still sticking on to fond memories of the shop, there’ll be a familiar sufficient place to go when you desire to buy overpriced HDMI cable televisions and knockoff earphones.