The bright side is that as of today RadioShack. Radioshack Brand Standards… has actually formally been purchased by Retail Ecommerce Ventures (REV), providing the distressed business a brand-new lease on life. The drawback, at least for folks like us, is that there are no instant plans to return the renowned electronics retailer to its brick-and-mortar roots. As the name indicates, REV concentrates on online retail, having actually formerly revamped the Internet presence of other bankrupt services such as Pier 1 Imports and Dressbarn.
While the press release does not straight-out prevent the possibility of new physical RadioShack locations, it’s clear that REV believes the future of retail isn’t to be found in your local shopping center. As the United States mulls further lockdowns in action to the continuing COVID-19 pandemic, it’s tough to disagree. There will be countless bored kids and grownups searching for something to do during the long winter nights, and an electronic set or more delivered to their door might be just the important things.
REV says they plan to relaunch the rather outdated RadioShack website in the nick of time for the business’s 100th anniversary in 2021. Since this composing the website currently states that sales have been momentarily stopped to allow for inventory restructuring, though it’s uncertain if this is straight related to the buyout or not. Getting a precise count of how much product the company still has on hand after shuttering the majority of their physical places in 2017 certainly sounds like something the new owners would want 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 business that prepares to relaunch the once-great seller as an online-focused brand name.
The shop’s remains were purchased by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brand names from other faded retail giants too, including Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV says RadioShack’s website currently has “strong existing sales and sales capacity,” and the company is “confident” it can further raise awareness of the brand worldwide.
REV claims it’s effectively turned around other companies it’s launched as online brands. The Wall Street Journal reported that Dressbarn more than doubled its earnings in between the very first and second quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anybody aiming to grab tech essentials. For a very long time, that indicated actual radio parts, however ended up including lots of electronic toys (one Brink editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined greatly as online shopping got here, and the company declared bankruptcy twice in the past 5 years. RadioShack still accredits its name to third-party “authorized” stores and offers top quality products within some locations of HobbyTown, a crafts merchant– comparable to how you can still discover “Sharper Image” products at Kohl’s despite the fact that that seller shut its physical doors over a years earlier. REV didn’t say whether those RadioShack licenses would remain. Radioshack Brand Standards
REV says it will “quickly relaunch” RadioShack’s website. For those of you still sticking on to fond memories of the store, there’ll be a familiar sufficient location to go when you desire to buy expensive HDMI cable televisions and knockoff earphones.