Fortunately is that as of today RadioShack. Radioshack Video Information System… has actually officially been acquired by Retail Ecommerce Ventures (REV), providing the troubled business a brand-new lease on life. The drawback, a minimum of for folks like us, is that there are no immediate strategies to return the iconic electronics merchant 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 the press release doesn’t outright preclude the possibility of new physical RadioShack places, it’s clear that REV believes the future of retail isn’t to be found in your local shopping center. As the US mulls even more lockdowns in action to the continuing COVID-19 pandemic, it’s tough 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 set or 2 delivered to their door might be just the important things.
REV says they prepare to relaunch the rather dated RadioShack website just in time for the business’s 100th anniversary in 2021. As of this writing the website currently says that sales have been temporarily halted to allow for stock restructuring, though it’s unclear if this is straight related to the buyout or not. Getting a precise count of just how much product the business still has on hand after shuttering the majority of their physical areas in 2017 definitely sounds like something the brand-new owners would want to do.
Like most of you, we have fond memories of the Golden era of RadioShack, back prior to they believed offering tvs and phones 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 wish to see in their shops. We all understand how that story ended. While it doesn’t appear like this news will get us any closer to having a neighborhood shop that stocks resistors, there’s a particular comfort in understanding that RadioShack sets 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 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, including Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV states RadioShack’s website already has “strong existing sales and sales potential,” and the company is “confident” it can even more raise awareness of the brand name worldwide.
REV declares it’s successfully turned around other companies it’s introduced as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its income in between the very first and second quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anybody looking to get tech essentials. REV didn’t say whether those RadioShack licenses would stick around. Radioshack Video Information System
REV says it will “quickly relaunch” RadioShack’s website. For those of you still sticking on to fond memories of the shop, there’ll be a familiar sufficient location to go when you desire to purchase expensive HDMI cables and knockoff headphones.