The bright side is that since today RadioShack. Radioshack Pachuca… has officially been acquired by Retail Ecommerce Ventures (REV), providing the distressed business a new lease on life. The disadvantage, a minimum of for folks like us, is that there are no immediate strategies to return the iconic electronics seller to its brick-and-mortar roots. As the name implies, REV focuses on online retail, having actually previously revamped the Internet presence of other insolvent services such as Pier 1 Imports and Dressbarn.
While journalism release does not outright preclude the possibility of new physical RadioShack areas, it’s clear that REV believes the future of retail isn’t to be discovered in your regional shopping center. 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 trying to find something to do throughout the long winter nights, and an electronic kit or more delivered to their door might be just the thing.
REV states they plan to relaunch the rather dated RadioShack website in the nick of time for the business’s 100th anniversary in 2021. Since this composing the website currently says that sales have been temporarily halted to allow for inventory restructuring, though it’s unclear if this is straight related to the buyout or not. Getting a precise count of how much merchandise the company still has on hand after shuttering most of their physical locations in 2017 definitely sounds like something the brand-new owners would want to do.
We all know how that story ended.
RadioShack’s shambling remains were provided another shock of life today when they were acquired by another company that prepares to relaunch the once-great retailer as an online-focused brand.
The store’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 also, including Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV says RadioShack’s site already has “strong existing sales and sales potential,” and the business is “positive” it can even more raise awareness of the brand internationally.
REV claims it’s effectively reversed other companies it’s released as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its profits between the 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 looking to get tech basics. REV didn’t state whether those RadioShack licenses would stick around. Radioshack Pachuca
REV states it will “quickly relaunch” RadioShack’s site. So for those of you still sticking on to fond memories of the store, there’ll be a familiar sufficient place to go when you wish to buy overpriced HDMI cable televisions and knockoff earphones.