The bright side is that since today RadioShack. Radioshack Potentiometer Wiring… has officially been acquired by Retail Ecommerce Ventures (REV), providing the struggling business a brand-new lease on life. The disadvantage, a minimum of for folks like us, is that there are no instant strategies to return the renowned electronic devices seller to its brick-and-mortar roots. As the name indicates, REV focuses on online retail, having previously revamped the Internet existence of other insolvent organizations such as Pier 1 Imports and Dressbarn.
While the press release doesn’t straight-out preclude the possibility of brand-new physical RadioShack areas, it’s clear that REV believes the future of retail isn’t to be discovered in your regional strip mall. As the US mulls even more lockdowns in response 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 package or more delivered to their door might be simply the thing.
REV says they prepare to relaunch the rather outdated RadioShack website just in time for the business’s 100th anniversary in 2021. Since this composing the site currently says that sales have been momentarily halted to allow for stock restructuring, though it’s uncertain if this is straight related to the buyout or not. Getting a precise count of how much merchandise the company still has on hand after shuttering most of their physical places in 2017 certainly seems like something the new owners would want to do.
Like the majority of you, we have fond memories of the Golden era of RadioShack, back prior to they thought selling phones and TVs was somehow a great idea. To their credit, they did attempt and revive their relationship with hackers and makers by asking the neighborhood what they ‘d want to see in their shops. However all of us know how that story ended. While it does not look like this news will get us any closer to having an area store that stocks resistors, there’s a particular convenience in understanding that RadioShack books and packages 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 prepares to relaunch the once-great retailer as an online-focused brand.
The shop’s remains were bought by Retail Ecommerce Ventures (REV), a start-up 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 site already has “strong existing sales and sales capacity,” and the business is “confident” it can further raise awareness of the brand name internationally.
REV declares it’s effectively reversed other business it’s launched as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its revenue in between the second and very 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 very long time, that meant real radio elements, but ended up including lots of electronic toys (one Edge editor fondly remembers his Armatron) and eventually phones. Its fortunes decreased significantly as online shopping arrived, and the company filed for insolvency two times in the past 5 years. RadioShack still accredits its name to third-party “licensed” shops and sells branded items within some areas of HobbyTown, a crafts merchant– similar to how you can still discover “Sharper Image” items at Kohl’s despite the fact that that retailer shut its physical doors over a decade earlier. REV didn’t state whether those RadioShack licenses would stick around. Radioshack Potentiometer Wiring
REV states it will “quickly relaunch” RadioShack’s site. For those of you still sticking on to fond memories of the shop, there’ll be a familiar adequate place to go when you want to buy expensive HDMI cable televisions and knockoff headphones.