The good news is that as of today RadioShack. Radioshack Pocketvision… has actually formally been acquired by Retail Ecommerce Ventures (REV), providing the troubled business a new lease on life. The downside, a minimum of for folks like us, is that there are no immediate strategies to return the iconic electronic devices retailer to its brick-and-mortar roots. As the name suggests, REV specializes in online retail, having previously revamped the Web presence of other insolvent services such as Pier 1 Imports and Dressbarn.
While journalism release does not outright prevent the possibility of new physical RadioShack places, it’s clear that REV thinks the future of retail isn’t to be found in your regional strip mall. As the United States mulls further lockdowns in action to the continuing COVID-19 pandemic, it’s hard to disagree. There will be millions of bored kids and grownups looking for something to do throughout the long winter season nights, and an electronic kit or two shipped to their door might be simply the thing.
REV states they plan to relaunch the rather outdated RadioShack website in the nick of time for the company’s 100th anniversary in 2021. As of this writing the website presently states that sales have been briefly stopped to permit stock restructuring, though it’s unclear if this is directly related to the buyout or not. Getting a precise 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 most of you, we have fond memories of the Golden era of RadioShack, back before they thought offering phones and TVs was in some way an excellent idea. To their credit, they did try and rekindle their relationship with hackers and makers by asking the community what they ‘d want to see in their stores. We all know how that story ended. While it doesn’t look like this news will get us any closer to having a community shop that stocks resistors, there’s a specific comfort in knowing 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 purchased by another business that plans to relaunch the once-great retailer as an online-focused brand.
The shop’s remains were purchased by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brand names from other faded retail giants as well, consisting of Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV states RadioShack’s website currently has “strong existing sales and sales potential,” and the business is “confident” it can further raise awareness of the brand name globally.
REV claims it’s successfully turned around other business it’s released as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its earnings in 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 get tech essentials. For a long time, that suggested real radio elements, but wound up including great deals of electronic toys (one Edge editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined significantly as online shopping got here, and the company declared bankruptcy two times in the past 5 years. RadioShack still accredits its name to third-party “authorized” stores and offers branded items within some locations of HobbyTown, a crafts merchant– comparable to how you can still discover “Sharper Image” products at Kohl’s even though that retailer shut its physical doors over a years earlier. REV didn’t state whether those RadioShack licenses would stick around. Radioshack Pocketvision
REV says it will “soon relaunch” RadioShack’s site. So for those of you still sticking on to fond memories of the shop, there’ll be a familiar enough location to go when you want to buy overpriced HDMI cables and knockoff headphones.