Fortunately is that as of today RadioShack. Radioshack Digital Multimeter… has actually officially been purchased by Retail Ecommerce Ventures (REV), giving the troubled business a brand-new lease on life. The drawback, a minimum of for folks like us, is that there are no immediate strategies to return the renowned electronic devices seller to its brick-and-mortar roots. As the name suggests, REV focuses on online retail, having formerly revamped the Internet existence of other insolvent services such as Pier 1 Imports and Dressbarn.
While journalism release does not outright prevent the possibility of brand-new physical RadioShack locations, it’s clear that REV believes the future of retail isn’t to be discovered in your regional shopping center. As the US mulls even more lockdowns in reaction to the continuing COVID-19 pandemic, it’s tough to disagree. There will be millions of bored kids and grownups searching for something to do throughout the long winter nights, and an electronic set or two shipped to their door might be simply the important things.
REV says they prepare to relaunch the rather outdated RadioShack site just in time for the business’s 100th anniversary in 2021. As of this composing the site currently says that sales have actually been briefly halted to allow for inventory restructuring, though it’s uncertain if this is straight related to the buyout or not. Getting an accurate count of just how much merchandise the business still has on hand after shuttering most of their physical places in 2017 certainly sounds like something the new owners would wish to do.
We all understand how that story ended.
RadioShack’s shambling remains were given another jolt of life today when they were purchased by another company that plans to relaunch the once-great merchant as an online-focused brand.
The store’s remains were bought by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brand names from other faded retail giants as well, including Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV states RadioShack’s site already has “strong existing sales and sales capacity,” and the company is “positive” it can further raise awareness of the brand name globally.
REV declares it’s successfully turned around other companies it’s launched as online brands. The Wall Street Journal reported that Dressbarn more than doubled its revenue between the first and 2nd quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anybody aiming to get tech basics. For a long period of time, that meant real radio components, however wound up consisting of lots of electronic toys (one Edge editor fondly remembers his Armatron) and eventually phones. Its fortunes decreased greatly as online shopping showed up, and the company declared personal bankruptcy two times in the past five years. RadioShack still certifies its name to third-party “licensed” shops and offers branded items within some places of HobbyTown, a crafts seller– similar to how you can still discover “Sharper Image” products at Kohl’s although that seller shut its physical doors over a decade back. REV didn’t state whether those RadioShack licenses would remain. Radioshack Digital Multimeter
REV says it will “quickly relaunch” RadioShack’s site. For those of you still clinging on to fond memories of the store, there’ll be a familiar adequate location to go when you desire to purchase expensive HDMI cable televisions and knockoff headphones.