RadioShack’s shambling remains were provided another shock of life today. Closest Radioshack To Me… when they were acquired by another company that prepares to relaunch the once-great merchant as an online-focused brand.
The shop’s remains were bought by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brands from other faded retail giants as well, including Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV says RadioShack’s site currently has “strong existing sales and sales capacity,” and the company is “positive” it can further raise awareness of the brand name globally.
REV claims it’s successfully reversed other companies it’s launched as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its earnings between the second and very 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 basics. For a long time, that indicated actual radio components, however ended up including lots of electronic toys (one Brink editor fondly remembers his Armatron) and eventually phones. Its fortunes declined vastly as online shopping arrived, and the business filed for insolvency twice in the past 5 years. RadioShack still certifies its name to third-party “authorized” shops and offers branded products within some areas of HobbyTown, a crafts merchant– similar to how you can still find “Sharper Image” products at Kohl’s despite the fact that that merchant shut its physical doors over a decade back. REV didn’t say whether those RadioShack licenses would stick around. Closest Radioshack To Me
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 enough place to go when you want to buy expensive HDMI cables and knockoff earphones.