The good news is that since today RadioShack. Tripode Radioshack… has actually formally been purchased by Retail Ecommerce Ventures (REV), providing the troubled company a brand-new lease on life. The drawback, at least for folks like us, is that there are no instant strategies to return the iconic electronic devices retailer to its brick-and-mortar roots. As the name implies, REV concentrates on online retail, having formerly revamped the Internet presence of other bankrupt organizations such as Pier 1 Imports and Dressbarn.
While journalism release doesn’t straight-out prevent the possibility of brand-new physical RadioShack areas, it’s clear that REV believes the future of retail isn’t to be found 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 adults searching for something to do throughout the long winter nights, and an electronic kit or 2 shipped to their door might be simply the important things.
REV states they prepare to relaunch the rather dated RadioShack website in the nick of time for the business’s 100th anniversary in 2021. As of this composing the site presently says that sales have actually been temporarily stopped to allow for inventory restructuring, though it’s unclear if this is straight related to the buyout or not. Getting an accurate count of how much product the company still has on hand after shuttering most of their physical locations in 2017 definitely seems like something the new owners would want to do.
We all understand how that story ended.
RadioShack’s shambling remains were provided another jolt of life today when they were bought by another business that prepares to relaunch the once-great seller 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 brand names from other faded retail giants also, including Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV states RadioShack’s site currently has “strong existing sales and sales capacity,” and the business is “confident” it can further raise awareness of the brand globally.
REV claims it’s effectively turned around other business it’s introduced as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its profits in between the first and second quarter of 2020.
RadioShack was established in 1921 and became a retail staple in the ’80s and ’90s for anybody looking to grab tech essentials. REV didn’t say whether those RadioShack licenses would stick around. Tripode Radioshack
REV says it will “quickly relaunch” RadioShack’s website. For those of you still clinging on to fond memories of the shop, there’ll be a familiar adequate location to go when you desire to purchase pricey HDMI cable televisions and knockoff headphones.