The good news is that as of today RadioShack. Radioshack Powered By Dazzle… has actually formally been acquired by Retail Ecommerce Ventures (REV), offering the distressed business a brand-new lease on life. The drawback, a minimum of for folks like us, is that there are no instant plans to return the iconic electronics merchant to its brick-and-mortar roots. As the name indicates, REV focuses on online retail, having actually formerly revamped the Web presence of other bankrupt organizations such as Pier 1 Imports and Dressbarn.
While the press release doesn’t outright preclude the possibility of brand-new physical RadioShack places, it’s clear that REV believes the future of retail isn’t to be found in your local strip mall. As the US mulls further lockdowns in response to the continuing COVID-19 pandemic, it’s tough to disagree. There will be millions of bored kids and adults searching for something to do during the long winter season nights, and an electronic package or 2 shipped to their door might be simply the thing.
REV says they prepare to relaunch the rather dated RadioShack site just in time for the company’s 100th anniversary in 2021. As of this writing the website currently says that sales have been briefly stopped to permit stock restructuring, though it’s unclear if this is straight related to the buyout or not. Getting an accurate count of just how much product the business still has on hand after shuttering most of their physical locations in 2017 definitely seems like something the new owners would wish to do.
We all know how that story ended.
RadioShack’s shambling remains were offered another shock of life today when they were purchased by another company that plans to relaunch the once-great seller as an online-focused brand.
The store’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 Goods, Dressbarn, and more. REV states RadioShack’s site currently has “strong existing sales and sales capacity,” and the business is “positive” it can further raise awareness of the brand globally.
REV declares 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 2nd and very first quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anybody wanting to get tech basics. For a very long time, that suggested real radio parts, however wound up consisting of great deals of electronic toys (one Verge editor fondly remembers his Armatron) and eventually phones. Its fortunes declined vastly as online shopping showed up, and the company declared bankruptcy two times in the past five years. RadioShack still accredits its name to third-party “authorized” shops and sells branded products within some areas of HobbyTown, a crafts seller– comparable to how you can still find “Sharper Image” items at Kohl’s despite the fact that that merchant shut its physical doors over a years ago. REV didn’t say whether those RadioShack licenses would remain. Radioshack Powered By Dazzle
REV states 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 enough location to go when you wish to buy pricey HDMI cable televisions and knockoff headphones.