Fortunately is that since today RadioShack. Radioshack Reflow Flux… has officially been acquired by Retail Ecommerce Ventures (REV), giving the troubled business a brand-new lease on life. The downside, a minimum of for folks like us, is that there are no immediate plans to return the renowned electronic devices seller to its brick-and-mortar roots. As the name implies, REV concentrates on online retail, having actually previously revamped the Web existence of other insolvent companies such as Pier 1 Imports and Dressbarn.
While journalism release does not outright prevent the possibility of brand-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 even more lockdowns in response 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 during the long winter season nights, and an electronic set or 2 shipped to their door might be just the thing.
REV says they plan to relaunch the rather outdated RadioShack site in the nick of time for the company’s 100th anniversary in 2021. Since this composing the website currently states that sales have been temporarily stopped to enable inventory restructuring, though it’s unclear if this is straight related to the buyout or not. Getting a precise count of how much merchandise 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 before they thought selling phones and TVs was somehow a great idea. To their credit, they did attempt and rekindle their relationship with hackers and makers by asking the community what they ‘d want to see in their shops. 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 certain convenience in understanding that RadioShack kits and books will still be around for the next generation.
RadioShack’s shambling remains were provided another jolt of life today when they were purchased by another business that prepares to relaunch the once-great merchant as an online-focused brand name.
The store’s remains were bought by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brand names from other faded retail giants too, consisting of Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV states RadioShack’s website already has “strong existing sales and sales capacity,” and the company is “positive” it can further raise awareness of the brand internationally.
REV declares it’s effectively reversed other business it’s released as online brand names. 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 became a retail staple in the ’80s and ’90s for anyone wanting to grab tech fundamentals. For a long period of time, that meant real radio parts, however ended up including lots of electronic toys (one Edge 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 “authorized” stores and offers branded products within some areas of HobbyTown, a crafts retailer– similar to how you can still discover “Sharper Image” items at Kohl’s even though that merchant shut its physical doors over a years earlier. REV didn’t say whether those RadioShack licenses would remain. Radioshack Reflow Flux
REV states it will “quickly relaunch” RadioShack’s site. So for those of you still sticking on to fond memories of the store, there’ll be a familiar adequate location to go when you wish to buy pricey HDMI cable televisions and knockoff headphones.