The bright side is that as of today RadioShack. Radioshack Netgear N600… has formally been bought by Retail Ecommerce Ventures (REV), offering the struggling company a brand-new lease on life. The drawback, at least for folks like us, is that there are no instant plans to return the renowned electronic devices seller to its brick-and-mortar roots. As the name suggests, REV specializes in online retail, having previously revamped the Internet presence of other insolvent services such as Pier 1 Imports and Dressbarn.
While the press release does not outright preclude the possibility of new physical RadioShack locations, it’s clear that REV believes the future of retail isn’t to be found in your local strip mall. As the United States mulls further lockdowns in response to the continuing COVID-19 pandemic, it’s tough to disagree. There will be millions of bored kids and adults searching for something to do throughout the long winter season nights, and an electronic package or more delivered to their door might be simply the thing.
REV states they plan to relaunch the rather dated RadioShack site in the nick of time for the business’s 100th anniversary in 2021. As of this writing the website currently says that sales have been temporarily halted to allow for stock restructuring, though it’s uncertain 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 the majority of their physical areas in 2017 definitely sounds like something the new owners would want to do.
Like most of you, we have fond memories of the Golden Age of RadioShack, back before they believed selling phones and TVs was in some way a good 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 does not appear like this news will get us any closer to having an area shop that stocks resistors, there’s a particular 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 purchased by another business that prepares to relaunch the once-great retailer as an online-focused brand name.
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 also, including Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV says RadioShack’s site currently has “strong existing sales and sales capacity,” and the company is “confident” it can even more raise awareness of the brand globally.
REV declares it’s effectively reversed other business it’s introduced as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its revenue in between the 2nd and first quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anyone wanting to grab tech fundamentals. For a long period of time, that meant actual radio components, but wound up consisting of lots of electronic toys (one Verge editor fondly remembers his Armatron) and eventually phones. Its fortunes declined greatly as online shopping showed up, and the business declared personal bankruptcy two times in the past five years. RadioShack still licenses its name to third-party “licensed” stores and offers top quality products within some places of HobbyTown, a crafts seller– comparable to how you can still find “Sharper Image” items at Kohl’s despite the fact that that retailer shut its physical doors over a decade ago. REV didn’t state whether those RadioShack licenses would stick around. Radioshack Netgear N600
REV says it will “quickly relaunch” RadioShack’s site. For those of you still clinging on to fond memories of the shop, there’ll be a familiar adequate location to go when you desire to buy costly HDMI cable televisions and knockoff headphones.