Fortunately is that as of today RadioShack. Radioshack Component Kit 2… has formally been purchased by Retail Ecommerce Ventures (REV), providing the troubled 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 iconic electronic devices retailer to its brick-and-mortar roots. As the name suggests, REV focuses on online retail, having actually previously revamped the Web existence of other insolvent companies such as Pier 1 Imports and Dressbarn.
While the press release does not straight-out preclude the possibility of new physical RadioShack places, it’s clear that REV thinks the future of retail isn’t to be discovered in your local strip mall. As the US mulls further lockdowns in reaction to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be millions of bored kids and grownups searching for something to do throughout the long winter season nights, and an electronic set or 2 shipped to their door might be just the important things.
REV states they prepare to relaunch the rather outdated RadioShack site in the nick of time for the company’s 100th anniversary in 2021. As of this writing the website currently states that sales have been briefly stopped 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 certainly seems like something the brand-new owners would wish to do.
Like most of you, we have fond memories of the Golden era of RadioShack, back prior to they thought selling phones and Televisions was in some way a good idea. To their credit, they did try and revive their relationship with hackers and makers by asking the neighborhood 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 an area shop that stocks resistors, there’s a particular comfort in understanding that RadioShack books and sets will still be around for the next generation.
RadioShack’s shambling remains were given another jolt of life today when they were acquired by another business that prepares to relaunch the once-great retailer as an online-focused brand name.
The shop’s remains were bought by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brand names from other faded retail giants also, consisting of Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV says 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 name internationally.
REV declares it’s successfully turned around other business it’s released as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its earnings between the second and very first quarter of 2020.
RadioShack was established in 1921 and became a retail staple in the ’80s and ’90s for anyone looking to grab tech fundamentals. REV didn’t say whether those RadioShack licenses would stick around. Radioshack Component Kit 2
REV states it will “soon relaunch” RadioShack’s website. So for those of you still sticking on to fond memories of the store, there’ll be a familiar enough location to go when you wish to purchase pricey HDMI cables and knockoff earphones.