The bright side is that as of today RadioShack. Radioshack Paraguay Mall Excelsior… has actually officially been purchased by Retail Ecommerce Ventures (REV), offering the troubled business a brand-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 merchant to its brick-and-mortar roots. As the name suggests, REV focuses on online retail, having previously revamped the Web existence of other insolvent companies such as Pier 1 Imports and Dressbarn.
While journalism release doesn’t outright preclude the possibility of brand-new physical RadioShack areas, it’s clear that REV thinks the future of retail isn’t to be found in your regional shopping center. As the United States 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 kit or 2 shipped to their door might be simply the important things.
REV says they plan to relaunch the rather dated RadioShack site in the nick of time for the business’s 100th anniversary in 2021. As of this composing the website presently says that sales have actually been momentarily stopped to enable inventory 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 locations in 2017 certainly sounds like something the brand-new owners would want to do.
Like the majority of you, we have fond memories of the Golden era of RadioShack, back before they thought selling tvs and phones was in some way a great concept. To their credit, they did try and revive their relationship with hackers and makers by asking the neighborhood what they ‘d wish to see in their stores. However all of us understand 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 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 business that prepares to relaunch the once-great retailer as an online-focused brand name.
The shop’s remains were purchased by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brands from other faded retail giants as well, consisting of 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 “positive” it can even more raise awareness of the brand name internationally.
REV declares it’s effectively reversed other business it’s launched as online brands. The Wall Street Journal reported that Dressbarn more than doubled its revenue in between the first and 2nd quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anyone looking to grab tech essentials. For a long time, that implied real radio parts, but wound up consisting of great deals of electronic toys (one Brink editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined significantly as online shopping got here, and the company filed for insolvency twice in the past five years. RadioShack still licenses its name to third-party “authorized” stores and sells branded products within some locations of HobbyTown, a crafts retailer– similar to how you can still find “Sharper Image” products at Kohl’s even though that retailer shut its physical doors over a years back. REV didn’t state whether those RadioShack licenses would stay. Radioshack Paraguay Mall Excelsior
REV states it will “quickly relaunch” RadioShack’s site. So for those of you still clinging on to fond memories of the store, there’ll be a familiar enough location to go when you want to buy pricey HDMI cables and knockoff headphones.