The good news is that since today RadioShack. Radioshack Mexico… has actually officially been acquired by Retail Ecommerce Ventures (REV), offering the distressed company a new lease on life. The drawback, a minimum of for folks like us, is that there are no immediate strategies to return the iconic electronics retailer to its brick-and-mortar roots. As the name suggests, REV focuses on online retail, having actually formerly revamped the Internet existence of other insolvent services such as Pier 1 Imports and Dressbarn.
While the press release does not straight-out prevent 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 shopping center. As the United States mulls further lockdowns in reaction to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be millions of bored kids and adults searching for something to do during the long winter nights, and an electronic package or 2 delivered to their door might be simply the thing.
REV states they prepare to relaunch the rather dated RadioShack site just in time for the business’s 100th anniversary in 2021. Since this composing the site presently states that sales have actually been briefly halted to permit inventory restructuring, though it’s unclear if this is directly related to the buyout or not. Getting an accurate count of how much merchandise the business still has on hand after shuttering the majority of their physical areas in 2017 certainly sounds like something the new owners would want to do.
We all understand how that story ended.
RadioShack’s shambling remains were given another jolt of life today when they were bought by another company that prepares to relaunch the once-great merchant as an online-focused brand name.
The store’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 Product, Dressbarn, and more. REV states RadioShack’s site currently has “strong existing sales and sales capacity,” and the company is “positive” it can even more raise awareness of the brand worldwide.
REV claims 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 profits in between the 2nd and first 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 Mexico
REV states it will “soon relaunch” RadioShack’s site. For those of you still clinging on to fond memories of the shop, there’ll be a familiar enough place to go when you want to buy pricey HDMI cable televisions and knockoff headphones.