The good news is that as of today RadioShack. Radioshack T Mobile Phones… has actually officially been bought by Retail Ecommerce Ventures (REV), providing the troubled business a brand-new lease on life. The disadvantage, a minimum of for folks like us, is that there are no instant strategies to return the renowned electronic devices merchant to its brick-and-mortar roots. As the name implies, REV concentrates on online retail, having actually formerly revamped the Web presence of other bankrupt 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 believes the future of retail isn’t to be discovered in your regional strip mall. 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 looking for something to do throughout the long winter nights, and an electronic package or two delivered to their door might be simply the important things.
REV says they prepare to relaunch the rather outdated RadioShack site in the nick of time for the company’s 100th anniversary in 2021.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 says that sales have actually been momentarily stopped to allow for inventory restructuring, though it’s uncertain if this is straight related to the buyout or not. Getting an accurate count of just how much product the company still has on hand after shuttering most of their physical areas in 2017 certainly sounds like something the new owners would wish to do.
Like the majority of you, we have fond memories of the Golden Age of RadioShack, back before they believed offering phones and Televisions was in some way an excellent concept. To their credit, they did try and revive their relationship with hackers and makers by asking the community what they ‘d wish to see in their shops. But all of us understand how that story ended. While it does not appear like this news will get us any closer to having a community shop that stocks resistors, there’s a specific convenience in knowing that RadioShack kits and books will still be around for the next generation.
RadioShack’s shambling remains were given another shock of life today when they were bought by another company that plans to relaunch the once-great seller as an online-focused brand.
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 too, including Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV says RadioShack’s website already has “strong existing sales and sales capacity,” and the company is “positive” it can even more raise awareness of the brand worldwide.
REV declares it’s successfully turned around other business it’s released as online brands. The Wall Street Journal reported that Dressbarn more than doubled its revenue between the 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 basics. For a long period of time, that meant real radio elements, but ended up including great deals of electronic toys (one Edge editor fondly remembers his Armatron) and eventually phones. Its fortunes declined vastly as online shopping arrived, and the business filed for bankruptcy two times in the past 5 years. RadioShack still certifies its name to third-party “authorized” 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 even though that merchant shut its physical doors over a decade ago. REV didn’t state whether those RadioShack licenses would remain. Radioshack T Mobile Phones
REV says it will “quickly relaunch” RadioShack’s site. For those of you still sticking on to fond memories of the shop, there’ll be a familiar adequate place to go when you desire to buy overpriced HDMI cable televisions and knockoff earphones.