RadioShack’s shambling remains were offered another jolt of life today. 2711108 Site Radioshack.Com… when they were purchased by another company that prepares to relaunch the once-great merchant as an online-focused brand name.
The shop’s remains were bought 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 states RadioShack’s website already has “strong existing sales and sales capacity,” and the company is “positive” it can even more raise awareness of the brand name worldwide.
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 revenue 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 anybody seeking to get tech fundamentals. For a very long time, that suggested real radio elements, but ended up including lots of electronic toys (one Edge editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined significantly as online shopping showed up, and the company filed for personal bankruptcy twice in the past five years. RadioShack still licenses its name to third-party “authorized” shops and sells top quality products within some areas of HobbyTown, a crafts retailer– comparable to how you can still find “Sharper Image” items at Kohl’s despite the fact that that seller shut its physical doors over a decade back. REV didn’t say whether those RadioShack licenses would stick around. 2711108 Site Radioshack.Com
REV says it will “soon relaunch” RadioShack’s website. For those of you still sticking on to fond memories of the shop, there’ll be a familiar sufficient place to go when you desire to buy pricey HDMI cables and knockoff earphones.