The good news is that as of today RadioShack. Radioshack Com Mx… has officially been acquired by Retail Ecommerce Ventures (REV), providing the troubled business a new lease on life. The downside, at least for folks like us, is that there are no immediate strategies to return the renowned electronic devices merchant to its brick-and-mortar roots. As the name indicates, REV specializes in online retail, having formerly revamped the Web presence of other insolvent organizations such as Pier 1 Imports and Dressbarn.
While journalism release does not outright prevent the possibility of new physical RadioShack areas, it’s clear that REV believes the future of retail isn’t to be found in your regional 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 grownups looking for something to do during the long winter season nights, and an electronic package or more shipped to their door might be just the thing.
REV says they prepare to relaunch the rather dated RadioShack website just in time for the company’s 100th anniversary in 2021. Since this composing the website currently says that sales have actually been briefly halted to allow for stock restructuring, though it’s unclear if this is directly related to the buyout or not. Getting a precise count of just how much merchandise the business still has on hand after shuttering most of their physical places in 2017 definitely seems like something the new owners would want to do.
Like most of you, we have fond memories of the Golden Age of RadioShack, back before they thought selling televisions and phones was somehow a great idea. To their credit, they did try and revive 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 does not appear like this news will get us any closer to having an area 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 purchased by another company that prepares to relaunch the once-great seller as an online-focused brand.
The shop’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 as well, including Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV states RadioShack’s website currently has “strong existing sales and sales potential,” and the company is “confident” it can even more raise awareness of the brand globally.
REV claims it’s successfully turned around other companies it’s released as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its profits in between the 2nd and very first quarter of 2020.
RadioShack was established in 1921 and became a retail staple in the ’80s and ’90s for anybody looking to grab tech essentials. REV didn’t state whether those RadioShack licenses would stick around. Radioshack Com Mx
REV says it will “quickly relaunch” RadioShack’s site. So for those of you still clinging on to fond memories of the shop, there’ll be a familiar adequate location to go when you want to buy pricey HDMI cables and knockoff headphones.