The bright side is that since today RadioShack. Radioshack Queretaro Plaza Del Parque… has actually formally been purchased by Retail Ecommerce Ventures (REV), giving the distressed business a brand-new lease on life. The downside, at least for folks like us, is that there are no immediate strategies to return the renowned electronics seller to its brick-and-mortar roots. As the name implies, REV focuses on online retail, having actually previously revamped the Web presence of other insolvent organizations such as Pier 1 Imports and Dressbarn.
While the press release does not outright preclude the possibility of new physical RadioShack locations, it’s clear that REV thinks the future of retail isn’t to be found in your regional shopping center. As the United States mulls even more lockdowns in response to the continuing COVID-19 pandemic, it’s tough to disagree. There will be countless bored kids and adults looking for something to do throughout the long winter season nights, and an electronic set or more delivered to their door might be just the important things.
REV states they plan to relaunch the rather outdated RadioShack website just in time for the business’s 100th anniversary in 2021. Since this writing the site currently says that sales have actually been temporarily stopped to enable stock restructuring, though it’s unclear if this is directly related to the buyout or not. Getting an accurate count of just how much merchandise the business still has on hand after shuttering most of their physical locations in 2017 certainly seems like something the new owners would want to do.
Like most of you, we have fond memories of the Golden era of RadioShack, back prior to they thought selling phones and TVs was somehow a good 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 shops. However we all know how that story ended. While it doesn’t appear like this news will get us any closer to having a neighborhood store that stocks resistors, there’s a certain convenience in understanding that RadioShack kits and books will still be around for the next generation.
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 retailer as an online-focused brand.
The store’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 as well, consisting of Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV says RadioShack’s website currently has “strong existing sales and sales capacity,” and the company is “positive” it can even more raise awareness of the brand globally.
REV declares it’s successfully reversed other companies it’s launched as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its income in between the first and second quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anybody aiming to get tech fundamentals. For a long time, that suggested actual radio components, but wound up consisting of lots of electronic toys (one Brink editor fondly remembers his Armatron) and eventually phones. Its fortunes declined significantly as online shopping got here, and the company filed for insolvency twice in the past 5 years. RadioShack still licenses its name to third-party “authorized” stores and sells branded items within some locations of HobbyTown, a crafts seller– comparable to how you can still discover “Sharper Image” products at Kohl’s despite the fact that that retailer shut its physical doors over a years earlier. REV didn’t say whether those RadioShack licenses would stick around. Radioshack Queretaro Plaza Del Parque
REV says it will “quickly relaunch” RadioShack’s website. For those of you still sticking on to fond memories of the shop, there’ll be a familiar adequate location to go when you desire to purchase costly HDMI cable televisions and knockoff headphones.