The good news is that as of today RadioShack. Radioshack Power Bank With Speaker… has officially been bought by Retail Ecommerce Ventures (REV), giving the struggling company a new lease on life. The drawback, a minimum of 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 focuses on online retail, having formerly revamped the Web presence of other insolvent services such as Pier 1 Imports and Dressbarn.
While journalism release doesn’t straight-out prevent the possibility of new physical RadioShack locations, it’s clear that REV thinks the future of retail isn’t to be found in your regional shopping center. As the US mulls further lockdowns in response to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be millions of bored kids and adults looking for something to do during the long winter nights, and an electronic package or two delivered to their door might be simply the important things.
REV states they prepare to relaunch the rather outdated RadioShack website in the nick of time for the company’s 100th anniversary in 2021. Since this writing the website presently states 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 a precise count of just how much merchandise the company still has on hand after shuttering most of their physical places in 2017 certainly sounds like something the new owners would wish to do.
Like most of you, we have fond memories of the Golden era of RadioShack, back prior to they thought offering tvs and phones was somehow an excellent concept. To their credit, they did attempt and rekindle their relationship with hackers and makers by asking the community what they ‘d wish 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 an area shop that stocks resistors, there’s a particular comfort in understanding that RadioShack books and sets will still be around for the next generation.
RadioShack’s shambling remains were given another shock of life today when they were acquired by another business that prepares to relaunch the once-great merchant 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 Product, 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 internationally.
REV claims it’s effectively reversed other companies it’s released as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its revenue between the first and 2nd quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anybody looking to grab tech fundamentals. For a long period of time, that indicated actual radio parts, however wound up including great deals of electronic toys (one Brink editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined greatly as online shopping arrived, and the business applied for bankruptcy twice in the past five years. RadioShack still certifies its name to third-party “licensed” shops and sells top quality products within some areas of HobbyTown, a crafts seller– comparable to how you can still find “Sharper Image” products at Kohl’s although that seller shut its physical doors over a decade back. REV didn’t state whether those RadioShack licenses would stick around. Radioshack Power Bank With Speaker
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 wish to purchase expensive HDMI cable televisions and knockoff headphones.