The good news is that since today RadioShack. Radioshack Pro 105… has formally been bought by Retail Ecommerce Ventures (REV), giving the struggling company a brand-new lease on life. The drawback, at least for folks like us, is that there are no immediate strategies to return the iconic electronic devices merchant to its brick-and-mortar roots. As the name suggests, REV concentrates on online retail, having actually previously revamped the Internet existence of other insolvent services such as Pier 1 Imports and Dressbarn.
While the press release does not straight-out preclude the possibility of brand-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 United States mulls further lockdowns in reaction to the continuing COVID-19 pandemic, it’s tough to disagree. There will be countless bored kids and grownups looking for something to do throughout the long winter season nights, and an electronic kit or more delivered to their door might be simply the important things.
REV says they prepare to relaunch the rather outdated RadioShack site in the nick of time for the company’s 100th anniversary in 2021. As of this composing the website presently says that sales have actually been momentarily stopped 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 the majority of their physical places in 2017 certainly sounds like something the brand-new owners would wish to do.
We all know how that story ended.
RadioShack’s shambling remains were provided another shock of life today when they were acquired by another business that prepares to relaunch the once-great seller as an online-focused brand name.
The store’s remains were bought by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brands from other faded retail giants also, consisting of Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV says RadioShack’s website already has “strong existing sales and sales capacity,” and the business is “confident” it can even more raise awareness of the brand name worldwide.
REV declares it’s effectively turned around other companies it’s launched as online brands. The Wall Street Journal reported that Dressbarn more than doubled its revenue in between the very first and 2nd quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anyone looking to grab tech basics. REV didn’t state whether those RadioShack licenses would stick around. Radioshack Pro 105
REV says it will “soon relaunch” RadioShack’s website. 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 want to purchase costly HDMI cables and knockoff headphones.