Fortunately is that as of today RadioShack. Radioshack Header Pins… has actually formally been acquired by Retail Ecommerce Ventures (REV), giving the troubled company a brand-new lease on life. The disadvantage, at least for folks like us, is that there are no instant strategies to return the renowned electronics merchant to its brick-and-mortar roots. As the name implies, REV concentrates on online retail, having actually previously revamped the Internet presence of other insolvent companies such as Pier 1 Imports and Dressbarn.
While the press release doesn’t straight-out preclude the possibility of brand-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 US mulls even more lockdowns in reaction to the continuing COVID-19 pandemic, it’s hard to disagree. There will be millions of bored kids and grownups trying to find something to do during the long winter season nights, and an electronic set or two shipped to their door might be simply the thing.
REV states they prepare to relaunch the rather outdated RadioShack website just in time for the business’s 100th anniversary in 2021. Since this composing the website presently says that sales have been momentarily halted to permit inventory restructuring, though it’s unclear if this is straight related to the buyout or not. Getting a precise count of just how much product the business still has on hand after shuttering the majority of their physical locations in 2017 definitely sounds like something the brand-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 prepares 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, including Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV says RadioShack’s site currently has “strong existing sales and sales capacity,” and the company is “confident” it can further raise awareness of the brand name internationally.
REV declares it’s effectively reversed other business it’s released as online brands. The Wall Street Journal reported that Dressbarn more than doubled its income in between the first and 2nd quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anyone looking to get tech fundamentals. REV didn’t state whether those RadioShack licenses would stick around. Radioshack Header Pins
REV says it will “quickly relaunch” RadioShack’s website. For those of you still clinging on to fond memories of the shop, there’ll be a familiar adequate place to go when you desire to buy overpriced HDMI cable televisions and knockoff headphones.