RadioShack’s shambling remains were given another jolt of life today. Cr2477N Radioshack… when they were acquired by another business that prepares to relaunch the once-great merchant as an online-focused brand.
The store’s remains were purchased 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 Goods, Dressbarn, and more. REV says RadioShack’s site already has “strong existing sales and sales capacity,” and the company is “positive” it can even more raise awareness of the brand internationally.
REV declares it’s effectively turned around other companies it’s introduced as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its revenue between the very first and second quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anyone looking to get tech basics. For a long period of time, that suggested actual radio elements, but wound up consisting of great deals of electronic toys (one Verge editor fondly remembers his Armatron) and ultimately phones. Its fortunes decreased vastly as online shopping got here, and the company declared personal bankruptcy twice in the past 5 years. RadioShack still licenses its name to third-party “authorized” stores and sells top quality products within some locations of HobbyTown, a crafts merchant– similar to how you can still discover “Sharper Image” products at Kohl’s although that retailer shut its physical doors over a years ago. REV didn’t state whether those RadioShack licenses would remain. Cr2477N Radioshack
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 sufficient location to go when you want to buy expensive HDMI cable televisions and knockoff headphones.