Fortunately is that since today RadioShack. Radioshack One Word Or Two… has officially been bought by Retail Ecommerce Ventures (REV), providing the troubled business a new lease on life. The downside, at least for folks like us, is that there are no instant strategies to return the renowned electronic devices merchant to its brick-and-mortar roots. As the name suggests, REV focuses on online retail, having actually previously revamped the Web existence of other insolvent businesses such as Pier 1 Imports and Dressbarn.
While the press release does not outright preclude the possibility of brand-new physical RadioShack places, it’s clear that REV thinks the future of retail isn’t to be discovered in your regional strip mall. As the United States mulls further lockdowns in action to the continuing COVID-19 pandemic, it’s hard to disagree. There will be millions of bored kids and grownups searching for something to do throughout the long winter season nights, and an electronic kit or 2 shipped to their door might be just the important things.
REV states they prepare to relaunch the rather outdated RadioShack website just in time for the company’s 100th anniversary in 2021. As of this writing the website presently states that sales have been briefly halted to permit stock restructuring, though it’s unclear if this is directly related to the buyout or not. Getting an accurate count of just how much product the business still has on hand after shuttering the majority of their physical areas in 2017 definitely sounds like something the new owners would wish to do.
We all understand how that story ended.
RadioShack’s shambling remains were offered another shock of life today when they were bought by another business that prepares to relaunch the once-great merchant as an online-focused brand.
The shop’s remains were bought by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brand names from other faded retail giants as well, consisting of Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV states RadioShack’s site already 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 turned around 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 ended up being a retail staple in the ’80s and ’90s for anybody aiming to grab tech fundamentals. For a long period of time, that implied actual radio elements, however wound up consisting of great deals of electronic toys (one Verge editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined vastly as online shopping got here, and the business filed for insolvency twice in the past 5 years. RadioShack still licenses its name to third-party “authorized” shops and sells top quality items within some locations of HobbyTown, a crafts merchant– similar to how you can still find “Sharper Image” products at Kohl’s even though that retailer shut its physical doors over a decade back. REV didn’t state whether those RadioShack licenses would stick around. Radioshack One Word Or Two
REV says it will “soon relaunch” RadioShack’s website. So for those of you still sticking on to fond memories of the store, there’ll be a familiar sufficient location to go when you wish to buy pricey HDMI cable televisions and knockoff headphones.