The bright side is that as of today RadioShack. Www Radioshack Com Giftcards… has actually officially been acquired by Retail Ecommerce Ventures (REV), providing the struggling business a brand-new lease on life. The drawback, at least for folks like us, is that there are no instant plans to return the renowned electronic devices seller to its brick-and-mortar roots. As the name suggests, REV concentrates on online retail, having actually formerly revamped the Web presence of other bankrupt organizations such as Pier 1 Imports and Dressbarn.
While the press release does not outright preclude the possibility of new physical RadioShack areas, it’s clear that REV believes the future of retail isn’t to be found in your local strip mall. As the United States mulls further lockdowns in action to the continuing COVID-19 pandemic, it’s tough to disagree. There will be millions of bored kids and grownups searching for something to do during the long winter nights, and an electronic set or more delivered to their door might be simply the thing.
REV states they plan to relaunch the rather outdated RadioShack site just in time for the business’s 100th anniversary in 2021. As of this writing the website presently states that sales have actually been briefly stopped to allow for stock restructuring, though it’s unclear if this is directly related to the buyout or not. Getting a precise count of just how much product the company still has on hand after shuttering most of their physical locations in 2017 definitely seems like something the brand-new owners would wish to do.
Like the majority of you, we have fond memories of the Golden era of RadioShack, back before they believed selling televisions and phones was somehow an excellent idea. To their credit, they did try and revive their relationship with hackers and makers by asking the community what they ‘d want to see in their shops. But all of us understand how that story ended. While it doesn’t appear like this news will get us any closer to having an area store that stocks resistors, there’s a certain convenience in understanding that RadioShack books and kits will still be around for the next generation.
RadioShack’s shambling remains were offered another shock 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 store’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 too, consisting of Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV says RadioShack’s website already has “strong existing sales and sales capacity,” and the company is “confident” it can even more raise awareness of the brand globally.
REV claims it’s successfully turned around other companies it’s launched as online brands. The Wall Street Journal reported that Dressbarn more than doubled its profits between the 2nd and first quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anybody wanting to grab tech essentials. For a long period of time, that indicated actual radio elements, but ended up consisting of great deals of electronic toys (one Verge editor fondly remembers his Armatron) and eventually phones. Its fortunes declined greatly as online shopping got here, and the company declared personal bankruptcy two times in the past five years. RadioShack still accredits its name to third-party “authorized” shops and sells branded items within some areas of HobbyTown, a crafts retailer– similar to how you can still discover “Sharper Image” items at Kohl’s despite the fact that that seller shut its physical doors over a years back. REV didn’t state whether those RadioShack licenses would remain. Www Radioshack Com Giftcards
REV states it will “soon relaunch” RadioShack’s website. For those of you still clinging on to fond memories of the shop, there’ll be a familiar sufficient location to go when you want to buy expensive HDMI cable televisions and knockoff earphones.