Fortunately is that since today RadioShack. Radioshack Raspberry… has actually formally been bought by Retail Ecommerce Ventures (REV), offering the struggling company a new lease on life. The drawback, a minimum of for folks like us, is that there are no instant strategies to return the renowned electronic devices seller to its brick-and-mortar roots. As the name implies, REV concentrates on online retail, having formerly revamped the Web presence of other insolvent organizations such as Pier 1 Imports and Dressbarn.
While the press release doesn’t outright prevent the possibility of new physical RadioShack places, it’s clear that REV believes the future of retail isn’t to be discovered in your regional shopping center. As the US 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 searching for something to do during the long winter nights, and an electronic set or more shipped to their door might be just the thing.
REV says they plan to relaunch the rather outdated RadioShack website in the nick of time for the company’s 100th anniversary in 2021. As of this composing the website presently states that sales have actually been briefly halted to enable stock restructuring, though it’s uncertain if this is directly related to the buyout or not. Getting an accurate count of just how much product the business still has on hand after shuttering the majority of their physical areas in 2017 certainly sounds like something the brand-new owners would wish to do.
We all understand how that story ended.
RadioShack’s shambling remains were offered another jolt of life today when they were purchased by another company that prepares to relaunch the once-great seller as an online-focused brand.
The shop’s remains were acquired 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 Product, Dressbarn, and more. REV states RadioShack’s website currently has “strong existing sales and sales potential,” and the company is “confident” it can even more raise awareness of the brand name worldwide.
REV claims it’s successfully reversed other companies it’s introduced as online brands. The Wall Street Journal reported that Dressbarn more than doubled its earnings 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 anybody looking to grab tech fundamentals. For a long period of time, that implied actual radio components, however ended up consisting of lots of electronic toys (one Brink editor fondly remembers his Armatron) and eventually phones. Its fortunes decreased significantly as online shopping showed up, and the business declared insolvency twice in the past five years. RadioShack still licenses its name to third-party “licensed” shops and offers top quality items within some locations of HobbyTown, a crafts merchant– similar to how you can still find “Sharper Image” products at Kohl’s although that retailer shut its physical doors over a years back. REV didn’t say whether those RadioShack licenses would remain. Radioshack Raspberry
REV states 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 sufficient location to go when you want to buy expensive HDMI cable televisions and knockoff headphones.