RadioShack’s shambling remains were provided another jolt of life today. Customer Voice Radioshack… when they were acquired by another company that plans to relaunch the once-great merchant as an online-focused brand.
The store’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 as well, consisting of Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV states RadioShack’s website currently has “strong existing sales and sales potential,” and the company is “positive” it can further raise awareness of the brand internationally.
REV declares it’s successfully turned around other companies it’s launched as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its profits in 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 anyone aiming to grab tech basics. For a long time, that meant actual radio components, however ended up consisting of lots of electronic toys (one Verge editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined vastly as online shopping arrived, and the business filed for personal bankruptcy two times in the past five years. RadioShack still licenses its name to third-party “licensed” stores and sells branded products within some places of HobbyTown, a crafts merchant– similar to how you can still discover “Sharper Image” products at Kohl’s even though that retailer shut its physical doors over a years ago. REV didn’t state whether those RadioShack licenses would stay. Customer Voice Radioshack
REV states it will “quickly relaunch” RadioShack’s website. So for those of you still sticking on to fond memories of the shop, there’ll be a familiar enough place to go when you wish to buy overpriced HDMI cable televisions and knockoff earphones.