Fortunately is that as of today RadioShack. Will Radioshack Come Back… has officially been acquired by Retail Ecommerce Ventures (REV), giving the distressed company a brand-new lease on life. The disadvantage, a minimum of 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 indicates, REV specializes in online retail, having actually previously revamped the Internet presence of other bankrupt companies such as Pier 1 Imports and Dressbarn.
While the press release doesn’t outright 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 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 season nights, and an electronic package or two delivered to their door might be simply 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. Since this composing the site presently says that sales have actually been momentarily stopped to enable inventory restructuring, though it’s uncertain 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 most of their physical places in 2017 certainly sounds like something the new owners would want to do.
We all understand how that story ended.
RadioShack’s shambling remains were given another jolt of life today when they were acquired by another business that plans to relaunch the once-great seller as an online-focused brand name.
The shop’s remains were acquired by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brand names from other faded retail giants too, including Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV states RadioShack’s site already has “strong existing sales and sales capacity,” and the business is “positive” it can further raise awareness of the brand globally.
REV declares it’s effectively turned around other business it’s launched 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 established in 1921 and ended up being a retail staple in the ’80s and ’90s for anybody looking to grab tech fundamentals. REV didn’t say whether those RadioShack licenses would stick around. Will Radioshack Come Back
REV states 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 adequate place to go when you desire to buy pricey HDMI cable televisions and knockoff earphones.