Fortunately is that as of today RadioShack. Radioshack Queretaro Direccion… has officially been acquired by Retail Ecommerce Ventures (REV), offering the troubled company a new lease on life. The disadvantage, at least for folks like us, is that there are no immediate strategies to return the renowned electronic devices merchant to its brick-and-mortar roots. As the name indicates, REV specializes in online retail, having previously revamped the Web existence of other insolvent services such as Pier 1 Imports and Dressbarn.
While journalism release doesn’t outright 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 strip mall. As the United States mulls even more lockdowns in reaction to the continuing COVID-19 pandemic, it’s hard 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 kit or more shipped to their door might be simply the important things.
REV says they plan to relaunch the rather dated RadioShack site in the nick of time for the company’s 100th anniversary in 2021. As of this composing the website presently states that sales have been momentarily halted to permit stock restructuring, though it’s uncertain 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 most of their physical areas in 2017 certainly seems like something the brand-new owners would want to do.
Like most of you, we have fond memories of the Golden Age of RadioShack, back prior to they thought offering tvs and phones was somehow a good concept. To their credit, they did attempt and revive their relationship with hackers and makers by asking the neighborhood what they ‘d wish to see in their stores. We all know how that story ended. While it doesn’t look like this news will get us any closer to having an area shop that stocks resistors, there’s a specific comfort in understanding that RadioShack books and kits will still be around for the next generation.
RadioShack’s shambling remains were offered another jolt of life today when they were purchased by another company that plans to relaunch the once-great seller as an online-focused brand name.
The store’s remains were purchased by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brands from other faded retail giants as well, consisting of Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV states RadioShack’s website currently has “strong existing sales and sales capacity,” and the company is “confident” it can further raise awareness of the brand worldwide.
REV declares it’s effectively turned around other companies it’s released as online brands. The Wall Street Journal reported that Dressbarn more than doubled its revenue in between the second and first quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anyone looking to grab tech basics. For a very long time, that suggested real radio components, however ended up including lots of electronic toys (one Verge editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined significantly as online shopping arrived, and the company declared bankruptcy twice in the past five years. RadioShack still licenses its name to third-party “licensed” shops and sells branded items within some areas of HobbyTown, a crafts seller– similar to how you can still discover “Sharper Image” products at Kohl’s despite the fact that that seller shut its physical doors over a decade ago. REV didn’t say whether those RadioShack licenses would stay. Radioshack Queretaro Direccion
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 place to go when you want to purchase expensive HDMI cables and knockoff headphones.