The good news is that as of today RadioShack. Radioshack Pro-649 Discription… has actually formally been acquired by Retail Ecommerce Ventures (REV), providing the troubled company a brand-new lease on life. The drawback, a minimum of 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 focuses on online retail, having actually formerly revamped the Web presence of other insolvent businesses such as Pier 1 Imports and Dressbarn.
While journalism release does not outright preclude the possibility of brand-new physical RadioShack areas, it’s clear that REV thinks 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 hard to disagree. There will be millions of bored kids and adults trying to find something to do during the long winter nights, and an electronic set or more delivered to their door might be just the important things.
REV states they prepare to relaunch the rather outdated RadioShack website just in time for the company’s 100th anniversary in 2021. As of this composing the site presently states that sales have been briefly stopped to permit inventory restructuring, though it’s unclear if this is straight related to the buyout or not. Getting an accurate count of just how much merchandise the company still has on hand after shuttering the majority of their physical places in 2017 definitely seems like something the brand-new owners would want to do.
Like most of you, we have fond memories of the Golden era of RadioShack, back before they believed selling televisions and phones 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 wish to see in their stores. But we all know how that story ended. While it does not look like this news will get us any closer to having a community store that stocks resistors, there’s a particular convenience in knowing that RadioShack books and packages will still be around for the next generation.
RadioShack’s shambling remains were provided another jolt of life today when they were bought by another company that prepares to relaunch the once-great retailer as an online-focused brand.
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 also, including Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV states RadioShack’s website 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 declares it’s successfully 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 first and second quarter of 2020.
RadioShack was established in 1921 and became a retail staple in the ’80s and ’90s for anyone looking to get tech basics. REV didn’t state whether those RadioShack licenses would stick around. Radioshack Pro-649 Discription
REV says it will “quickly relaunch” RadioShack’s site. For those of you still sticking on to fond memories of the store, there’ll be a familiar enough location to go when you desire to purchase costly HDMI cables and knockoff headphones.