RadioShack’s shambling remains were offered another shock of life today. Panasonic Radioshack Code… when they were purchased by another business that prepares to relaunch the once-great seller as an online-focused brand name.
The shop’s remains were bought by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brand names from other faded retail giants too, including Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV states RadioShack’s site already has “strong existing sales and sales potential,” and the company is “confident” it can further raise awareness of the brand name globally.
REV declares it’s effectively turned around other business it’s introduced as online brands. The Wall Street Journal reported that Dressbarn more than doubled its profits 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 anyone seeking to get tech essentials. For a long period of time, that meant real radio elements, but wound up consisting of great deals of electronic toys (one Edge editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined greatly as online shopping showed up, and the business applied for insolvency two times in the past 5 years. RadioShack still accredits its name to third-party “authorized” shops and offers top quality products within some areas of HobbyTown, a crafts seller– comparable to how you can still discover “Sharper Image” items at Kohl’s although that merchant shut its physical doors over a decade back. REV didn’t say whether those RadioShack licenses would remain. Panasonic Radioshack Code
REV says 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 want to buy pricey HDMI cables and knockoff headphones.