The good news is that since today RadioShack. Radioshack Over The Ear Bluetooth Headphones… has actually formally 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 seller to its brick-and-mortar roots. As the name indicates, REV concentrates on online retail, having formerly revamped the Web presence of other insolvent services such as Pier 1 Imports and Dressbarn.
While the press release doesn’t straight-out preclude the possibility of brand-new physical RadioShack places, it’s clear that REV believes the future of retail isn’t to be discovered in your local strip mall. As the US mulls further lockdowns in action to the continuing COVID-19 pandemic, it’s tough to disagree. There will be millions of bored kids and grownups searching for something to do throughout the long winter nights, and an electronic package or more shipped to their door might be just the important things.
REV states they plan to relaunch the rather dated RadioShack site just in time for the business’s 100th anniversary in 2021. Since this writing the site currently states that sales have been briefly halted to permit stock restructuring, though it’s uncertain if this is straight related to the buyout or not. Getting a precise count of how much product the company still has on hand after shuttering the majority of their physical locations in 2017 definitely sounds like something the brand-new owners would want to do.
We all understand how that story ended.
RadioShack’s shambling remains were offered another jolt of life today when they were bought by another business that prepares to relaunch the once-great retailer as an online-focused brand name.
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 too, including Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV states RadioShack’s website currently has “strong existing sales and sales potential,” and the business is “confident” it can even more raise awareness of the brand name globally.
REV claims it’s effectively reversed other business it’s launched as online brands. The Wall Street Journal reported that Dressbarn more than doubled its earnings between the very 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 wanting to grab tech essentials. For a long period of time, that indicated actual radio elements, however wound up including lots of electronic toys (one Edge editor fondly remembers his Armatron) and ultimately phones. Its fortunes decreased significantly as online shopping showed up, and the company applied for bankruptcy twice in the past 5 years. RadioShack still certifies its name to third-party “licensed” shops and sells top quality products within some places of HobbyTown, a crafts merchant– similar to how you can still discover “Sharper Image” products at Kohl’s even though that merchant shut its physical doors over a years ago. REV didn’t state whether those RadioShack licenses would stick around. Radioshack Over The Ear Bluetooth Headphones
REV says it will “soon relaunch” RadioShack’s website. So for those of you still clinging on to fond memories of the store, there’ll be a familiar sufficient place to go when you wish to purchase pricey HDMI cables and knockoff earphones.