The good news is that since today RadioShack. Radioshack Pro 688… has actually officially been acquired by Retail Ecommerce Ventures (REV), offering the distressed business a brand-new lease on life. The downside, at least for folks like us, is that there are no immediate plans to return the iconic electronics merchant to its brick-and-mortar roots. As the name indicates, REV focuses on online retail, having actually previously revamped the Internet presence of other insolvent businesses such as Pier 1 Imports and Dressbarn.
While journalism release doesn’t straight-out preclude the possibility of new physical RadioShack areas, it’s clear that REV thinks the future of retail isn’t to be discovered in your regional shopping center. As the United States mulls further lockdowns in reaction to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be millions of bored kids and grownups trying to find something to do throughout the long winter nights, and an electronic set or 2 shipped to their door might be simply the thing.
REV says they plan to relaunch the rather dated RadioShack site in the nick of time for the business’s 100th anniversary in 2021. As of this composing the website currently says that sales have actually been temporarily halted to permit inventory restructuring, though it’s uncertain if this is straight related to the buyout or not. Getting a precise count of how much merchandise the company still has on hand after shuttering the majority of their physical places in 2017 certainly seems like something the new owners would wish to do.
Like most of you, we have fond memories of the Golden era of RadioShack, back prior to they thought selling tvs and phones was somehow an excellent concept. To their credit, they did try and rekindle their relationship with hackers and makers by asking the neighborhood what they ‘d want to see in their stores. We all know how that story ended. While it doesn’t appear like this news will get us any closer to having an area store that stocks resistors, there’s a certain convenience in knowing that RadioShack packages and books will still be around for the next generation.
RadioShack’s shambling remains were provided another shock of life today when they were bought by another business that prepares to relaunch the once-great merchant as an online-focused brand name.
The shop’s remains were purchased by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brand names from other faded retail giants too, including Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV states RadioShack’s website currently has “strong existing sales and sales potential,” and the business is “confident” it can further raise awareness of the brand globally.
REV declares it’s successfully reversed other business it’s launched as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its revenue between the second and first quarter of 2020.
RadioShack was established in 1921 and became 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 Pro 688
REV says it will “soon relaunch” RadioShack’s website. So for those of you still clinging on to fond memories of the shop, there’ll be a familiar adequate location to go when you wish to purchase costly HDMI cable televisions and knockoff earphones.