The bright side is that as of today RadioShack. Radioshack Potentiometer Switch… has actually formally been purchased by Retail Ecommerce Ventures (REV), offering the struggling business a new lease on life. The disadvantage, at least for folks like us, is that there are no instant strategies to return the renowned electronic devices merchant to its brick-and-mortar roots. As the name suggests, REV specializes in online retail, having actually formerly revamped the Web existence of other insolvent businesses such as Pier 1 Imports and Dressbarn.
While the press release doesn’t straight-out preclude the possibility of 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 action to the continuing COVID-19 pandemic, it’s tough to disagree. There will be millions of bored kids and adults trying to find something to do during the long winter season nights, and an electronic set or two delivered to their door might be simply the important things.
REV says they plan to relaunch the rather outdated RadioShack website in the nick of time for the business’s 100th anniversary in 2021. Since this composing the site currently says that sales have been briefly halted to enable stock restructuring, though it’s uncertain if this is straight related to the buyout or not. Getting an accurate count of just how much merchandise the business still has on hand after shuttering the majority of their physical areas in 2017 certainly sounds like something the brand-new owners would want to do.
We all understand how that story ended.
RadioShack’s shambling remains were provided another jolt of life today when they were bought by another company that prepares to relaunch the once-great merchant as an online-focused brand name.
The shop’s remains were acquired by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brands from other faded retail giants too, consisting of Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV states RadioShack’s website currently has “strong existing sales and sales capacity,” and the company is “confident” it can even more raise awareness of the brand worldwide.
REV claims it’s effectively reversed other companies it’s introduced as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its income in between the second and first 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 fundamentals. For a long time, that implied actual radio elements, but ended up including lots of electronic toys (one Edge editor fondly remembers his Armatron) and eventually phones. Its fortunes declined greatly as online shopping showed up, and the business declared bankruptcy twice in the past 5 years. RadioShack still certifies its name to third-party “authorized” shops and sells branded products within some places of HobbyTown, a crafts retailer– comparable to how you can still find “Sharper Image” items at Kohl’s even though that merchant shut its physical doors over a decade ago. REV didn’t say whether those RadioShack licenses would stay. Radioshack Potentiometer Switch
REV says it will “soon relaunch” RadioShack’s website. 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 want to purchase overpriced HDMI cable televisions and knockoff earphones.