RadioShack’s shambling remains were given another shock of life today. Bloomberg Radioshack… when they were acquired by another business that plans to relaunch the once-great retailer as an online-focused brand.
The shop’s remains were acquired 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 Goods, Dressbarn, and more. REV says RadioShack’s site currently has “strong existing sales and sales capacity,” and the business is “positive” it can even more raise awareness of the brand name worldwide.
REV declares it’s successfully reversed other business it’s introduced as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its earnings 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 basics. REV didn’t say whether those RadioShack licenses would stick around. Bloomberg Radioshack
REV states it will “soon relaunch” RadioShack’s website. So for those of you still clinging on to fond memories of the store, there’ll be a familiar enough place to go when you want to buy overpriced HDMI cable televisions and knockoff earphones.