Fortunately is that as of today RadioShack. Radioshack Optical Sensor… has officially been acquired by Retail Ecommerce Ventures (REV), offering the struggling business a 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 merchant to its brick-and-mortar roots. As the name suggests, REV focuses on online retail, having previously revamped the Internet existence of other insolvent businesses such as Pier 1 Imports and Dressbarn.
While journalism release doesn’t outright preclude the possibility of brand-new physical RadioShack locations, it’s clear that REV believes 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 countless bored kids and grownups looking for something to do during the long winter season nights, and an electronic package or more delivered to their door might be just the important things.
REV states they prepare to relaunch the rather outdated RadioShack site in the nick of time for the company’s 100th anniversary in 2021. Since this composing the site presently states that sales have actually been briefly stopped to permit stock restructuring, though it’s unclear if this is directly related to the buyout or not. Getting a precise count of how much merchandise the business still has on hand after shuttering most of their physical places in 2017 certainly 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 prior to they believed offering phones and Televisions was somehow an excellent concept. To their credit, they did attempt and revive their relationship with hackers and makers by asking the neighborhood what they ‘d want to see in their stores. However we all know how that story ended. While it doesn’t look 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 given another jolt of life today when they were purchased by another company that plans to relaunch the once-great seller as an online-focused brand name.
The shop’s remains were acquired by Retail Ecommerce Ventures (REV), a start-up 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 states RadioShack’s website already has “strong existing sales and sales potential,” and the business is “confident” it can even more raise awareness of the brand internationally.
REV claims it’s effectively reversed other business it’s launched as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its income between the second and first quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anybody wanting to grab tech essentials. For a very long time, that implied real radio elements, but ended up consisting of lots of electronic toys (one Verge editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined vastly as online shopping showed up, and the business filed for personal bankruptcy twice in the past five years. RadioShack still certifies its name to third-party “authorized” shops and sells branded items within some areas of HobbyTown, a crafts retailer– similar to how you can still find “Sharper Image” items at Kohl’s even though that merchant shut its physical doors over a years earlier. REV didn’t state whether those RadioShack licenses would remain. Radioshack Optical Sensor
REV says it will “soon relaunch” RadioShack’s site. 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 costly HDMI cables and knockoff earphones.