The good news is that as of today RadioShack. Radioshack Chromecast 2… has formally been purchased by Retail Ecommerce Ventures (REV), offering the struggling business a brand-new lease on life. The drawback, at least for folks like us, is that there are no instant strategies to return the iconic electronic devices retailer to its brick-and-mortar roots. As the name suggests, REV specializes in online retail, having previously revamped the Web presence of other bankrupt companies such as Pier 1 Imports and Dressbarn.
While the press release does not straight-out prevent the possibility of brand-new physical RadioShack areas, it’s clear that REV thinks the future of retail isn’t to be found in your regional shopping center. As the United States mulls even more lockdowns in response to the continuing COVID-19 pandemic, it’s hard to disagree. There will be millions of bored kids and grownups looking for something to do throughout the long winter nights, and an electronic kit or more delivered to their door might be just the thing.
REV states they prepare to relaunch the rather outdated RadioShack site in the nick of time for the business’s 100th anniversary in 2021. As of this composing the website presently states that sales have actually been temporarily halted to allow for stock restructuring, though it’s unclear 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 most of their physical areas in 2017 certainly sounds like something the brand-new owners would wish 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 an excellent idea. To their credit, they did try and rekindle their relationship with hackers and makers by asking the community what they ‘d want to see in their shops. We all understand how that story ended. While it doesn’t appear like this news will get us any closer to having a community store that stocks resistors, there’s a particular convenience in understanding that RadioShack books and sets 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 business that prepares to relaunch the once-great merchant as an online-focused brand name.
The store’s remains were purchased by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brands from other faded retail giants also, 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 business is “positive” it can further raise awareness of the brand name internationally.
REV claims it’s effectively reversed other business it’s launched as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its revenue in between the first and 2nd quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anyone wanting to grab tech fundamentals. For a long time, that implied actual radio components, however wound up consisting of great deals of electronic toys (one Edge editor fondly remembers his Armatron) and ultimately phones. Its fortunes decreased greatly as online shopping got here, and the company filed for personal bankruptcy two times in the past five years. RadioShack still licenses its name to third-party “licensed” shops and sells top quality items within some locations of HobbyTown, a crafts retailer– similar to how you can still find “Sharper Image” items at Kohl’s even though that seller shut its physical doors over a years ago. REV didn’t say whether those RadioShack licenses would stay. Radioshack Chromecast 2
REV says it will “quickly relaunch” RadioShack’s site. For those of you still clinging on to fond memories of the shop, there’ll be a familiar enough place to go when you want to buy costly HDMI cable televisions and knockoff earphones.