The good news is that since today RadioShack. Radioshack Facebook… has formally been acquired by Retail Ecommerce Ventures (REV), offering the struggling business a new lease on life. The disadvantage, at least for folks like us, is that there are no instant plans to return the iconic electronics retailer to its brick-and-mortar roots. As the name implies, REV specializes in online retail, having actually formerly revamped the Web existence of other insolvent companies such as Pier 1 Imports and Dressbarn.
While journalism release doesn’t straight-out prevent the possibility of brand-new physical RadioShack locations, it’s clear that REV thinks the future of retail isn’t to be found in your regional shopping center. As the US mulls further lockdowns in action to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be countless bored kids and grownups looking for something to do during the long winter season nights, and an electronic set or two shipped to their door might be just the important things.
REV says they plan to relaunch the rather outdated RadioShack website just in time for the company’s 100th anniversary in 2021. Since this writing the site currently states that sales have actually been momentarily stopped to enable stock restructuring, though it’s uncertain if this is directly related to the buyout or not. Getting an accurate count of just how much product the company still has on hand after shuttering the majority 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 before they thought offering phones and Televisions was in some way an excellent concept. To their credit, they did attempt and rekindle their relationship with hackers and makers by asking the community what they ‘d want to see in their stores. But all of us understand how that story ended. While it doesn’t look like this news will get us any closer to having a community shop that stocks resistors, there’s a specific convenience in knowing that RadioShack books and kits will still be around for the next generation.
RadioShack’s shambling remains were provided another shock of life today when they were bought by another business that plans to relaunch the once-great retailer as an online-focused brand.
The store’s remains were purchased by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brand names from other faded retail giants too, consisting of Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV states RadioShack’s site currently has “strong existing sales and sales capacity,” and the business is “confident” it can further raise awareness of the brand name internationally.
REV declares it’s successfully reversed other business it’s introduced as online brands. The Wall Street Journal reported that Dressbarn more than doubled its revenue between the second and very first quarter of 2020.
RadioShack was founded in 1921 and ended up being 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 Facebook
REV says it will “quickly relaunch” RadioShack’s site. So for those of you still sticking on to fond memories of the shop, there’ll be a familiar enough place to go when you wish to buy costly HDMI cables and knockoff earphones.