Fortunately is that since today RadioShack. What Type Of Store Is Radioshack… has formally been acquired by Retail Ecommerce Ventures (REV), giving the troubled company a brand-new lease on life. The downside, a minimum of for folks like us, is that there are no instant strategies to return the renowned electronics merchant to its brick-and-mortar roots. As the name suggests, REV concentrates on online retail, having formerly revamped the Web presence of other bankrupt organizations such as Pier 1 Imports and Dressbarn.
While the press release doesn’t straight-out preclude the possibility of brand-new physical RadioShack locations, it’s clear that REV believes the future of retail isn’t to be discovered in your local shopping center. As the United States mulls even more lockdowns in reaction to the continuing COVID-19 pandemic, it’s tough to disagree. There will be millions of bored kids and adults searching for something to do throughout the long winter season nights, and an electronic package or more shipped to their door might be simply the important things.
REV says they prepare to relaunch the rather outdated RadioShack site just in time for the business’s 100th anniversary in 2021. As of this composing the website currently says that sales have been temporarily halted to permit inventory restructuring, though it’s unclear if this is straight related to the buyout or not. Getting an accurate count of just how much merchandise the business still has on hand after shuttering most of their physical places in 2017 certainly sounds like something the new owners would wish to do.
Like most of you, we have fond memories of the Golden Age of RadioShack, back before they believed selling tvs and phones was somehow a good idea. To their credit, they did try and rekindle their relationship with hackers and makers by asking the community what they ‘d want to see in their stores. But all of us know how that story ended. While it does not look like this news will get us any closer to having a community shop that stocks resistors, there’s a particular convenience in understanding that RadioShack books and kits will still be around for the next generation.
RadioShack’s shambling remains were provided another jolt of life today when they were acquired by another company that plans to relaunch the once-great merchant as an online-focused brand.
The shop’s remains were acquired by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brand names from other faded retail giants too, including Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV says RadioShack’s site currently has “strong existing sales and sales potential,” and the company is “confident” it can further raise awareness of the brand name globally.
REV declares it’s effectively reversed other companies it’s released as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its earnings between the second and first quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anyone aiming to grab tech essentials. For a very long time, that indicated actual radio components, however ended up including great deals of electronic toys (one Edge editor fondly remembers his Armatron) and eventually phones. Its fortunes decreased vastly as online shopping got here, and the company applied for personal bankruptcy twice in the past 5 years. RadioShack still licenses its name to third-party “authorized” shops and sells top quality items within some locations of HobbyTown, a crafts seller– comparable to how you can still find “Sharper Image” items at Kohl’s although that merchant shut its physical doors over a decade earlier. REV didn’t say whether those RadioShack licenses would stay. What Type Of Store Is Radioshack
REV says 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 place to go when you want to purchase costly HDMI cable televisions and knockoff headphones.