RadioShack’s shambling remains were provided another jolt of life today. Lance Armstrong Radioshack… when they were acquired by another company that prepares to relaunch the once-great retailer 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 brand names from other faded retail giants also, consisting of Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV states RadioShack’s website currently has “strong existing sales and sales capacity,” and the business is “positive” it can further raise awareness of the brand globally.
REV declares it’s successfully turned around other business it’s launched as online brands. The Wall Street Journal reported that Dressbarn more than doubled its revenue in between the first and 2nd quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anyone aiming to get tech fundamentals. For a very long time, that implied real radio parts, but ended up including lots of electronic toys (one Brink editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined significantly as online shopping arrived, and the business filed for insolvency two times in the past five years. RadioShack still licenses its name to third-party “authorized” shops and sells branded products within some areas of HobbyTown, a crafts retailer– comparable to how you can still discover “Sharper Image” items at Kohl’s even though that seller shut its physical doors over a decade ago. REV didn’t say whether those RadioShack licenses would stick around. Lance Armstrong Radioshack
REV states it will “soon relaunch” RadioShack’s website. For those of you still clinging on to fond memories of the store, there’ll be a familiar adequate location to go when you want to purchase pricey HDMI cable televisions and knockoff headphones.