The good news is that since today RadioShack. Radioshack Real Plaza Santa Clara… has formally been purchased by Retail Ecommerce Ventures (REV), providing the struggling business a new lease on life. The downside, a minimum of for folks like us, is that there are no instant strategies to return the iconic electronic devices seller to its brick-and-mortar roots. As the name implies, REV specializes in online retail, having formerly revamped the Internet existence of other insolvent companies such as Pier 1 Imports and Dressbarn.
While the press release doesn’t outright prevent the possibility of new physical RadioShack areas, it’s clear that REV believes the future of retail isn’t to be discovered in your regional shopping center. As the United States mulls further lockdowns in response to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be countless bored kids and adults trying to find something to do throughout the long winter season nights, and an electronic kit or two delivered to their door might be simply the thing.
REV states they prepare to relaunch the rather outdated RadioShack website just in time for the business’s 100th anniversary in 2021. As of this composing the website currently says that sales have been briefly stopped to allow for stock restructuring, though it’s unclear 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 most of their physical locations in 2017 definitely seems like something the brand-new owners would want to do.
Like the majority of you, we have fond memories of the Golden era of RadioShack, back prior to they believed selling tvs and phones was somehow a good concept. To their credit, they did attempt and rekindle their relationship with hackers and makers by asking the neighborhood what they ‘d want to see in their stores. But we all know how that story ended. While it doesn’t look like this news will get us any closer to having an area store that stocks resistors, there’s a particular convenience in knowing that RadioShack books and kits will still be around for the next generation.
RadioShack’s shambling remains were given another jolt of life today when they were bought by another business that plans to relaunch the once-great merchant as an online-focused brand.
The shop’s remains were bought by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brand names from other faded retail giants also, consisting of Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV says RadioShack’s site currently has “strong existing sales and sales capacity,” and the business is “confident” it can further raise awareness of the brand name internationally.
REV declares it’s successfully turned around other companies it’s launched as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its income 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 wanting to grab tech essentials. For a very long time, that suggested real radio parts, but ended up including great deals of electronic toys (one Verge editor fondly remembers his Armatron) and eventually phones. Its fortunes declined significantly as online shopping got here, and the business applied for bankruptcy two times in the past 5 years. RadioShack still licenses its name to third-party “authorized” stores and offers branded items within some locations of HobbyTown, a crafts retailer– comparable to how you can still find “Sharper Image” items at Kohl’s despite the fact that that merchant shut its physical doors over a years back. REV didn’t say whether those RadioShack licenses would remain. Radioshack Real Plaza Santa Clara
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 enough location to go when you want to purchase overpriced HDMI cables and knockoff earphones.