The good news is that as of today RadioShack. Radioshack Powerhorn 80hm… has officially been bought by Retail Ecommerce Ventures (REV), offering the struggling business a brand-new lease on life. The downside, at least 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 implies, REV focuses on online retail, having previously revamped the Internet presence of other insolvent businesses such as Pier 1 Imports and Dressbarn.
While the press release doesn’t outright prevent the possibility of brand-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 even more lockdowns in reaction to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be countless bored kids and adults trying to find something to do throughout the long winter nights, and an electronic package or more shipped to their door might be simply the thing.
REV states they plan to relaunch the rather outdated RadioShack site in the nick of time for the business’s 100th anniversary in 2021. Since this writing the website presently says that sales have been temporarily halted to enable inventory restructuring, though it’s unclear if this is directly related to the buyout or not. Getting a precise count of just how much product the business still has on hand after shuttering most of their physical areas in 2017 definitely sounds 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 before they believed offering televisions and phones was in some way a great concept. To their credit, they did attempt and rekindle their relationship with hackers and makers by asking the community what they ‘d want to see in their stores. We all understand how that story ended. While it doesn’t appear like this news will get us any closer to having an area shop that stocks resistors, there’s a specific comfort in knowing that RadioShack packages and books will still be around for the next generation.
RadioShack’s shambling remains were offered another jolt of life today when they were bought by another business that plans to relaunch the once-great retailer as an online-focused brand name.
The store’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 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 even more raise awareness of the brand globally.
REV claims it’s successfully turned around other companies it’s introduced as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its revenue in between the 2nd and first 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. REV didn’t say whether those RadioShack licenses would stick around. Radioshack Powerhorn 80hm
REV states it will “quickly relaunch” RadioShack’s website. For those of you still clinging on to fond memories of the store, there’ll be a familiar adequate location to go when you desire to purchase expensive HDMI cable televisions and knockoff earphones.