The bright side is that since today RadioShack. Radioshack Apodaca… has actually officially been acquired by Retail Ecommerce Ventures (REV), offering the troubled business a brand-new lease on life. The downside, a minimum of for folks like us, is that there are no immediate strategies to return the iconic electronics retailer to its brick-and-mortar roots. As the name implies, REV concentrates on online retail, having actually formerly revamped the Internet presence of other insolvent companies such as Pier 1 Imports and Dressbarn.
While the press release does not outright prevent 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 strip mall. As the US mulls further lockdowns in action to the continuing COVID-19 pandemic, it’s hard to disagree. There will be millions of bored kids and adults searching for something to do during the long winter season nights, and an electronic set or more shipped to their door might be just the thing.
REV says they plan to relaunch the rather dated RadioShack website just in time for the company’s 100th anniversary in 2021. Since this composing the site presently says that sales have actually been temporarily stopped to permit stock restructuring, though it’s uncertain if this is directly related to the buyout or not. Getting a precise count of how much merchandise the company still has on hand after shuttering most of their physical locations in 2017 definitely seems like something the new owners would want to do.
Like the majority of you, we have fond memories of the Golden Age of RadioShack, back before they believed offering 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 community what they ‘d wish to see in their shops. We all understand how that story ended. While it doesn’t look like this news will get us any closer to having a neighborhood store that stocks resistors, there’s a specific convenience 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 company 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 brand names from other faded retail giants as well, consisting of Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV states RadioShack’s website already has “strong existing sales and sales capacity,” and the business is “positive” it can even more raise awareness of the brand globally.
REV claims it’s successfully turned around other companies it’s introduced as online brands. The Wall Street Journal reported that Dressbarn more than doubled its revenue between the second and first quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anybody aiming to grab tech fundamentals. For a long period of time, that implied real radio components, however wound up consisting of lots of electronic toys (one Brink editor fondly remembers his Armatron) and ultimately phones. Its fortunes decreased significantly as online shopping arrived, and the business applied for insolvency twice in the past 5 years. RadioShack still licenses its name to third-party “authorized” shops and sells top quality items within some areas of HobbyTown, a crafts merchant– similar to how you can still discover “Sharper Image” items at Kohl’s despite the fact that that retailer shut its physical doors over a years earlier. REV didn’t state whether those RadioShack licenses would remain. Radioshack Apodaca
REV states it will “quickly relaunch” RadioShack’s website. So for those of you still sticking on to fond memories of the store, there’ll be a familiar enough place to go when you want to purchase pricey HDMI cable televisions and knockoff headphones.