Fortunately is that since today RadioShack. Radioshack Pr0-495… has actually officially been bought by Retail Ecommerce Ventures (REV), providing the struggling company a brand-new lease on life. The downside, a minimum of for folks like us, is that there are no immediate plans to return the renowned electronics retailer to its brick-and-mortar roots. As the name suggests, REV specializes in online retail, having actually previously revamped the Internet presence of other insolvent services such as Pier 1 Imports and Dressbarn.
While the press release doesn’t straight-out 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 local shopping center. 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 grownups searching for something to do throughout the long winter nights, and an electronic kit or 2 shipped to their door might be just the thing.
REV states they prepare to relaunch the rather dated RadioShack site just in time for the business’s 100th anniversary in 2021. Since this writing the website currently states that sales have been momentarily stopped to enable inventory restructuring, though it’s uncertain if this is directly related to the buyout or not. Getting a precise count of how much product the business still has on hand after shuttering most of their physical areas in 2017 definitely sounds like something the brand-new owners would want to do.
We all understand how that story ended.
RadioShack’s shambling remains were provided another shock of life today when they were purchased by another company that prepares to relaunch the once-great seller as an online-focused brand.
The shop’s remains were acquired 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, including Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV states RadioShack’s website already has “strong existing sales and sales potential,” and the business is “positive” it can even more raise awareness of the brand worldwide.
REV declares it’s effectively reversed other companies it’s launched as online brands. The Wall Street Journal reported that Dressbarn more than doubled its revenue between the first and 2nd quarter of 2020.
RadioShack was established in 1921 and ended up being a retail staple in the ’80s and ’90s for anyone looking to grab tech fundamentals. REV didn’t say whether those RadioShack licenses would stick around. Radioshack Pr0-495
REV says 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 sufficient location to go when you desire to buy overpriced HDMI cables and knockoff headphones.