RadioShack’s shambling remains were given another shock of life today. Radioshack 58 Piece Precision Screwdriver Set… when they were bought by another company 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 startup founded in 2019 that’s been scooping up brand names from other faded retail giants as well, including Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV says RadioShack’s site already has “strong existing sales and sales potential,” and the business is “confident” it can further raise awareness of the brand name globally.
REV claims it’s successfully 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 2nd and very first quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anyone wanting to grab tech basics. For a long period of time, that meant actual radio parts, but ended up consisting of great deals 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 bankruptcy twice in the past five years. RadioShack still certifies its name to third-party “licensed” stores and sells top quality products within some areas of HobbyTown, a crafts merchant– similar to how you can still find “Sharper Image” items at Kohl’s even though that merchant shut its physical doors over a decade back. REV didn’t state whether those RadioShack licenses would stay. Radioshack 58 Piece Precision Screwdriver Set
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 enough place to go when you desire to purchase pricey HDMI cables and knockoff headphones.