The bright side is that since today RadioShack. Radioshack Vs Reserved Logo… has formally been acquired by Retail Ecommerce Ventures (REV), offering the distressed 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 retailer to its brick-and-mortar roots. As the name indicates, REV concentrates on online retail, having previously revamped the Web existence of other insolvent services such as Pier 1 Imports and Dressbarn.
While the press release doesn’t outright preclude the possibility of brand-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 millions of bored kids and adults trying to find something to do throughout the long winter nights, and an electronic set or more delivered to their door might be simply the important things.
REV says they prepare to relaunch the rather outdated RadioShack website just in time for the company’s 100th anniversary in 2021. Since this writing the website currently states that sales have actually been briefly halted to allow for stock 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 business still has on hand after shuttering the majority of their physical areas in 2017 definitely sounds like something the new owners would wish to do.
We all understand how that story ended.
RadioShack’s shambling remains were offered another shock of life today when they were purchased by another company that prepares to relaunch the once-great merchant 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 brands from other faded retail giants too, including Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV states RadioShack’s site already has “strong existing sales and sales capacity,” and the company is “confident” it can further raise awareness of the brand globally.
REV claims it’s effectively turned around other companies it’s released as online brands. The Wall Street Journal reported that Dressbarn more than doubled its revenue in between the very first and second quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anyone wanting to grab tech basics. For a long period of time, that suggested real radio parts, however ended up including lots of electronic toys (one Brink editor fondly remembers his Armatron) and eventually phones. Its fortunes declined significantly as online shopping showed up, and the company filed for personal bankruptcy twice in the past five years. RadioShack still certifies its name to third-party “authorized” shops and offers branded products within some locations of HobbyTown, a crafts merchant– comparable to how you can still find “Sharper Image” items at Kohl’s even though that merchant shut its physical doors over a years back. REV didn’t say whether those RadioShack licenses would remain. Radioshack Vs Reserved Logo
REV states it will “soon relaunch” RadioShack’s website. So for those of you still sticking on to fond memories of the store, there’ll be a familiar enough location to go when you want to buy costly HDMI cables and knockoff headphones.