RadioShack’s shambling remains were offered another shock of life today. Covington Radioshack… when they were bought by another company that plans to relaunch the once-great seller 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 brands from other faded retail giants also, including Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV says RadioShack’s website currently has “strong existing sales and sales potential,” and the business is “positive” it can further raise awareness of the brand name worldwide.
REV declares it’s successfully reversed other business it’s launched as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its profits in between the 2nd and first quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anybody aiming to get tech basics. For a long time, that suggested actual radio components, but wound up consisting of lots of electronic toys (one Verge editor fondly remembers his Armatron) and eventually phones. Its fortunes decreased vastly as online shopping got here, and the business applied for insolvency twice in the past 5 years. RadioShack still accredits its name to third-party “authorized” shops and sells branded items within some areas of HobbyTown, a crafts retailer– similar to how you can still discover “Sharper Image” products at Kohl’s even though that retailer shut its physical doors over a decade earlier. REV didn’t say whether those RadioShack licenses would remain. Covington Radioshack
REV states it will “quickly relaunch” RadioShack’s site. So for those of you still clinging on to fond memories of the shop, there’ll be a familiar adequate place to go when you want to buy expensive HDMI cables and knockoff earphones.