The bright side is that since today RadioShack. Radioshack Coatzacoalcos… has actually formally been bought by Retail Ecommerce Ventures (REV), giving the struggling business a brand-new lease on life. The drawback, a minimum of for folks like us, is that there are no instant strategies to return the renowned electronics retailer to its brick-and-mortar roots. As the name indicates, REV focuses on online retail, having previously revamped the Web presence of other insolvent organizations 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 shopping center. As the United States mulls even more lockdowns in response to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be countless bored kids and grownups trying to find something to do throughout the long winter nights, and an electronic package or two shipped to their door might be simply the important things.
REV says they prepare to relaunch the rather dated RadioShack site in the nick of time for the company’s 100th anniversary in 2021. Since this composing the website currently says that sales have been temporarily stopped to enable inventory restructuring, though it’s uncertain if this is straight related to the buyout or not. Getting a precise count of just how much product the company still has on hand after shuttering the majority of their physical areas in 2017 certainly seems like something the new owners would want to do.
Like most of you, we have fond memories of the Golden era of RadioShack, back prior to they thought offering televisions and phones was in some way a great 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 stores. We all understand how that story ended. While it doesn’t look like this news will get us any closer to having a community store that stocks resistors, there’s a certain convenience in understanding that RadioShack books and kits will still be around for the next generation.
RadioShack’s shambling remains were given another jolt of life today when they were bought by another business that plans to relaunch the once-great merchant as an online-focused brand.
The shop’s remains were acquired by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brands from other faded retail giants too, including Pier 1, Modell’s Sporting Item, 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 internationally.
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 revenue in between the first and 2nd quarter of 2020.
RadioShack was established in 1921 and became a retail staple in the ’80s and ’90s for anybody looking to get tech essentials. REV didn’t say whether those RadioShack licenses would stick around. Radioshack Coatzacoalcos
REV states it will “soon relaunch” RadioShack’s website. So for those of you still clinging on to fond memories of the store, there’ll be a familiar enough location to go when you wish to purchase costly HDMI cable televisions and knockoff headphones.