RadioShack’s shambling remains were given another shock of life today. 2302014 Radioshack… when they were acquired by another company that plans to relaunch the once-great retailer as an online-focused brand name.
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 too, including Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV says RadioShack’s website currently has “strong existing sales and sales capacity,” and the business is “positive” it can even more raise awareness of the brand internationally.
REV declares it’s successfully turned around other business it’s launched as online brands. The Wall Street Journal reported that Dressbarn more than doubled its profits between the very first and second quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anybody wanting to get tech essentials. For a long period of time, that suggested actual radio elements, but wound up including lots of electronic toys (one Edge editor fondly remembers his Armatron) and ultimately phones. Its fortunes decreased vastly as online shopping got here, and the business declared bankruptcy two times in the past five years. RadioShack still certifies its name to third-party “authorized” stores and offers top quality products within some areas of HobbyTown, a crafts merchant– comparable to how you can still discover “Sharper Image” products at Kohl’s although that retailer shut its physical doors over a decade ago. REV didn’t say whether those RadioShack licenses would stick around. 2302014 Radioshack
REV says it will “soon relaunch” RadioShack’s website. For those of you still sticking on to fond memories of the store, there’ll be a familiar sufficient location to go when you desire to buy expensive HDMI cables and knockoff earphones.