RadioShack’s shambling remains were offered another jolt of life today. Radio Am Fm Radioshack… when they were acquired by another business that plans to relaunch the once-great retailer as an online-focused brand.
The shop’s remains were acquired by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brands from other faded retail giants too, consisting of Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV says RadioShack’s website already has “strong existing sales and sales capacity,” and the company is “positive” it can further raise awareness of the brand internationally.
REV claims it’s effectively turned around other companies it’s introduced as online brands. The Wall Street Journal reported that Dressbarn more than doubled its profits in between the very first and 2nd 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 very long time, that implied actual radio components, but wound up consisting of lots of electronic toys (one Brink editor fondly remembers his Armatron) and ultimately phones. Its fortunes decreased greatly as online shopping showed up, and the company applied for bankruptcy twice in the past 5 years. RadioShack still accredits its name to third-party “licensed” stores and offers branded products within some locations of HobbyTown, a crafts merchant– comparable to how you can still find “Sharper Image” items at Kohl’s although that seller shut its physical doors over a years earlier. REV didn’t say whether those RadioShack licenses would stick around. Radio Am Fm Radioshack
REV states it will “quickly relaunch” RadioShack’s website. For those of you still sticking on to fond memories of the shop, there’ll be a familiar adequate place to go when you desire to purchase overpriced HDMI cable televisions and knockoff earphones.