RadioShack’s shambling remains were offered another shock of life today. How To Use A Radioshack Gift Card… when they were acquired by another business that plans to relaunch the once-great retailer as an online-focused brand name.
The store’s remains were acquired by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brand names from other faded retail giants also, consisting of Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV says RadioShack’s website currently has “strong existing sales and sales capacity,” and the company is “confident” it can further raise awareness of the brand name internationally.
REV declares it’s effectively 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 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 grab tech essentials. For a very long time, that indicated actual radio components, but wound up including lots of electronic toys (one Verge editor fondly remembers his Armatron) and ultimately phones. Its fortunes decreased significantly as online shopping got here, and the company applied for personal bankruptcy twice in the past five years. RadioShack still licenses its name to third-party “authorized” stores and offers top quality products within some places of HobbyTown, a crafts retailer– similar to how you can still discover “Sharper Image” items at Kohl’s although that retailer shut its physical doors over a decade back. REV didn’t say whether those RadioShack licenses would remain. How To Use A Radioshack Gift Card
REV states it will “soon relaunch” RadioShack’s site. So for those of you still sticking on to fond memories of the shop, there’ll be a familiar adequate location to go when you wish to buy expensive HDMI cable televisions and knockoff headphones.