Fortunately is that since today RadioShack. Radioshack Teclados… has officially been purchased by Retail Ecommerce Ventures (REV), offering the struggling business a new lease on life. The downside, at least for folks like us, is that there are no immediate strategies to return the renowned electronic devices merchant to its brick-and-mortar roots. As the name suggests, REV concentrates on online retail, having formerly revamped the Internet existence of other bankrupt services such as Pier 1 Imports and Dressbarn.
While the press release does not straight-out preclude the possibility of new physical RadioShack areas, it’s clear that REV thinks the future of retail isn’t to be found in your regional shopping center. As the United States mulls further lockdowns in response to the continuing COVID-19 pandemic, it’s hard to disagree. There will be millions of bored kids and adults looking for something to do throughout the long winter season nights, and an electronic set or 2 delivered to their door might be simply the thing.
REV says they plan to relaunch the rather outdated RadioShack site in the nick of time for the business’s 100th anniversary in 2021. As of this composing the site presently says that sales have been momentarily stopped to permit inventory 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 company still has on hand after shuttering the majority of their physical places in 2017 certainly sounds like something the brand-new owners would want to do.
We all understand how that story ended.
RadioShack’s shambling remains were given another shock of life today when they were acquired by another company that prepares to relaunch the once-great retailer as an online-focused brand.
The shop’s remains were purchased by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brands from other faded retail giants also, consisting of Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV states RadioShack’s website already has “strong existing sales and sales capacity,” and the business is “positive” it can even more raise awareness of the brand internationally.
REV declares it’s successfully turned around other business it’s introduced as online brands. The Wall Street Journal reported that Dressbarn more than doubled its revenue in between the 2nd and first quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anyone looking to grab tech essentials. For a long time, that implied real radio components, however ended up consisting of great deals of electronic toys (one Edge editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined greatly as online shopping showed up, and the company filed for insolvency two times in the past 5 years. RadioShack still accredits its name to third-party “authorized” stores and offers top quality products within some places of HobbyTown, a crafts retailer– similar to how you can still find “Sharper Image” products at Kohl’s even though that merchant shut its physical doors over a years back. REV didn’t state whether those RadioShack licenses would remain. Radioshack Teclados
REV states it will “quickly relaunch” RadioShack’s site. So for those of you still clinging on to fond memories of the store, there’ll be a familiar sufficient place to go when you want to buy pricey HDMI cable televisions and knockoff headphones.