The good news is that as of today RadioShack. Radioshack Pr Shopper Black Friday… has formally been acquired by Retail Ecommerce Ventures (REV), offering the struggling business a brand-new lease on life. The disadvantage, a minimum of for folks like us, is that there are no immediate strategies to return the renowned electronics merchant to its brick-and-mortar roots. As the name suggests, REV concentrates on online retail, having actually previously revamped the Web existence of other insolvent services such as Pier 1 Imports and Dressbarn.
While journalism release doesn’t outright prevent the possibility of new physical RadioShack locations, it’s clear that REV believes the future of retail isn’t to be discovered in your regional shopping center. As the US mulls even more lockdowns in reaction to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be millions of bored kids and adults searching for something to do throughout the long winter nights, and an electronic set or 2 delivered to their door might be simply the important things.
REV says they prepare to relaunch the rather dated RadioShack website just in time for the company’s 100th anniversary in 2021. As of this writing the website currently says that sales have been temporarily stopped to permit inventory restructuring, though it’s uncertain if this is directly related to the buyout or not. Getting an accurate count of how much product the business still has on hand after shuttering the majority of their physical locations in 2017 certainly seems like something the brand-new owners would want to do.
Like the majority of you, we have fond memories of the Golden Age of RadioShack, back before they believed selling phones and TVs was in some way a great idea. To their credit, they did try and revive their relationship with hackers and makers by asking the neighborhood what they ‘d want to see in their stores. We all understand how that story ended. While it does not appear like this news will get us any closer to having a community shop that stocks resistors, there’s a particular convenience in understanding that RadioShack sets and books will still be around for the next generation.
RadioShack’s shambling remains were given another jolt of life today when they were acquired by another business that plans to relaunch the once-great seller as an online-focused brand.
The store’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 as well, consisting of Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV says RadioShack’s site already has “strong existing sales and sales capacity,” and the company is “confident” it can even more raise awareness of the brand name globally.
REV claims it’s successfully turned around other business it’s introduced as online brands. The Wall Street Journal reported that Dressbarn more than doubled its revenue between the second and very 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 get tech fundamentals. For a long time, that implied real radio elements, but ended up including great deals of electronic toys (one Edge editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined significantly as online shopping showed up, and the company declared personal bankruptcy twice in the past five years. RadioShack still licenses its name to third-party “licensed” stores and offers top quality products within some locations of HobbyTown, a crafts seller– similar to how you can still discover “Sharper Image” items at Kohl’s even though that merchant shut its physical doors over a years ago. REV didn’t say whether those RadioShack licenses would remain. Radioshack Pr Shopper Black Friday
REV states it will “quickly relaunch” RadioShack’s site. So for those of you still sticking on to fond memories of the shop, there’ll be a familiar adequate place to go when you wish to buy costly HDMI cable televisions and knockoff headphones.