The bright side is that since today RadioShack. Radioshack Pecos Tx… has officially been bought by Retail Ecommerce Ventures (REV), giving 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 electronics seller to its brick-and-mortar roots. As the name indicates, REV focuses on online retail, having actually previously revamped the Internet presence of other insolvent businesses such as Pier 1 Imports and Dressbarn.
While journalism 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 discovered in your local shopping center. As the US mulls even more lockdowns in response to the continuing COVID-19 pandemic, it’s hard to disagree. There will be millions of bored kids and grownups searching for something to do throughout the long winter season nights, and an electronic set or more delivered to their door might be just the important things.
REV says they prepare to relaunch the rather dated RadioShack website 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 briefly halted to enable inventory restructuring, though it’s unclear if this is straight related to the buyout or not. Getting an accurate count of how much product the business 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.
Like the majority of you, we have fond memories of the Golden Age of RadioShack, back prior to they thought offering phones and TVs 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 wish to see in their shops. We all know how that story ended. While it doesn’t appear like this news will get us any closer to having a community shop that stocks resistors, there’s a certain comfort in understanding that RadioShack books and sets will still be around for the next generation.
RadioShack’s shambling remains were provided another jolt of life today when they were bought by another business that plans to relaunch the once-great seller as an online-focused brand.
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 too, including Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV says RadioShack’s site already has “strong existing sales and sales capacity,” and the company is “positive” it can further raise awareness of the brand name worldwide.
REV declares it’s effectively reversed other companies it’s launched as online brand names. 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 anybody aiming to grab tech essentials. For a long time, that meant actual radio elements, however ended up including lots of electronic toys (one Edge editor fondly remembers his Armatron) and eventually phones. Its fortunes declined greatly as online shopping got here, and the business filed for bankruptcy two times in the past five years. RadioShack still certifies its name to third-party “licensed” stores and sells top quality products within some locations of HobbyTown, a crafts seller– similar to how you can still discover “Sharper Image” products at Kohl’s despite the fact that that seller shut its physical doors over a decade earlier. REV didn’t say whether those RadioShack licenses would remain. Radioshack Pecos Tx
REV says 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 adequate place to go when you wish to buy expensive HDMI cables and knockoff earphones.