The bright side is that as of today RadioShack. Radioshack Shares… has actually formally been bought by Retail Ecommerce Ventures (REV), providing the troubled 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 iconic electronic devices merchant to its brick-and-mortar roots. As the name indicates, REV specializes in online retail, having actually previously revamped the Web presence of other insolvent businesses 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 thinks the future of retail isn’t to be discovered in your regional strip mall. As the US mulls even more lockdowns in response to the continuing COVID-19 pandemic, it’s hard to disagree. There will be countless bored kids and adults looking for something to do during the long winter season nights, and an electronic kit or two delivered to their door might be just the thing.
REV says they plan to relaunch the rather dated RadioShack site in the nick of time for the business’s 100th anniversary in 2021. Since this composing the website presently states that sales have been momentarily halted to permit inventory restructuring, though it’s unclear if this is directly related to the buyout or not. Getting an accurate count of how much product the company still has on hand after shuttering the majority of their physical areas in 2017 certainly seems like something the brand-new owners would wish to do.
Like the majority of you, we have fond memories of the Golden Age of RadioShack, back prior to they thought selling phones and Televisions was somehow a good concept. To their credit, they did try and rekindle their relationship with hackers and makers by asking the community what they ‘d wish to see in their shops. We all know how that story ended. While it does not look like this news will get us any closer to having an area store that stocks resistors, there’s a particular comfort in knowing that RadioShack books and packages will still be around for the next generation.
RadioShack’s shambling remains were offered another jolt of life today when they were bought by another business that prepares to relaunch the once-great merchant as an online-focused brand name.
The shop’s remains were purchased by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brand names from other faded retail giants as well, consisting of Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV says RadioShack’s website already has “strong existing sales and sales capacity,” and the business is “positive” it can further raise awareness of the brand name worldwide.
REV claims it’s effectively reversed other business it’s introduced as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its revenue in between the 2nd and very first quarter of 2020.
RadioShack was established in 1921 and ended up being a retail staple in the ’80s and ’90s for anybody looking to grab tech fundamentals. REV didn’t state whether those RadioShack licenses would stick around. Radioshack Shares
REV states it will “quickly relaunch” RadioShack’s website. For those of you still sticking on to fond memories of the store, there’ll be a familiar enough location to go when you desire to buy overpriced HDMI cable televisions and knockoff earphones.