Fortunately is that since today RadioShack. Radioshack Packaging… has officially been bought by Retail Ecommerce Ventures (REV), offering the distressed company a brand-new lease on life. The disadvantage, at least for folks like us, is that there are no instant plans to return the renowned electronic devices retailer 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 organizations such as Pier 1 Imports and Dressbarn.
While the press release does not 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 found in your local shopping center. As the United States mulls further lockdowns in reaction to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be countless bored kids and adults searching for something to do throughout the long winter season nights, and an electronic package or 2 delivered 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REV states they prepare to relaunch the rather outdated RadioShack website just in time for the business’s 100th anniversary in 2021. As of this composing the site presently states that sales have actually been momentarily halted to permit stock restructuring, though it’s unclear if this is directly related to the buyout or not. Getting a precise count of just how much product the business still has on hand after shuttering the majority of their physical areas in 2017 certainly seems like something the brand-new owners would wish to do.
Like most of you, we have fond memories of the Golden era of RadioShack, back before they believed offering televisions and phones was somehow an excellent concept. To their credit, they did try and revive their relationship with hackers and makers by asking the community what they ‘d wish to see in their shops. We all know how that story ended. While it does not appear like this news will get us any closer to having an area store that stocks resistors, there’s a certain convenience in understanding that RadioShack books and packages 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 company that plans to relaunch the once-great retailer 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 brands 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 capacity,” and the company is “positive” it can even more raise awareness of the brand internationally.
REV declares it’s successfully turned around other companies it’s released as online brands. The Wall Street Journal reported that Dressbarn more than doubled its revenue between the second and first quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anyone looking to grab tech fundamentals. REV didn’t say whether those RadioShack licenses would stick around. Radioshack Packaging
REV says it will “quickly relaunch” RadioShack’s site. So for those of you still clinging on to fond memories of the shop, there’ll be a familiar enough location to go when you wish to buy overpriced HDMI cables and knockoff headphones.