RadioShack’s shambling remains were provided another jolt of life today. 23-073 Radioshack Size… when they were bought by another company that plans to relaunch the once-great seller as an online-focused brand name.
The store’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 as well, consisting of Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV says RadioShack’s website currently has “strong existing sales and sales potential,” and the company is “confident” it can even more raise awareness of the brand name globally.
REV declares it’s effectively turned around other business it’s released as online brands. The Wall Street Journal reported that Dressbarn more than doubled its profits in between the first and 2nd quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anyone looking to grab tech essentials. For a long period of time, that suggested actual radio parts, but wound up including lots of electronic toys (one Brink editor fondly remembers his Armatron) and ultimately phones. Its fortunes decreased significantly as online shopping arrived, and the company declared personal bankruptcy twice in the past five years. RadioShack still licenses its name to third-party “authorized” stores and offers branded products within some areas of HobbyTown, a crafts merchant– comparable to how you can still find “Sharper Image” products at Kohl’s although that retailer shut its physical doors over a decade earlier. REV didn’t say whether those RadioShack licenses would stay. 23-073 Radioshack Size
REV says it will “soon relaunch” RadioShack’s site. For those of you still sticking on to fond memories of the store, there’ll be a familiar adequate place to go when you want to purchase expensive HDMI cable televisions and knockoff earphones.