RadioShack’s shambling remains were given another shock of life today. Radioshack Citadel… when they were bought by another business that plans to relaunch the once-great merchant as an online-focused brand.
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 Product, Dressbarn, and more. REV says RadioShack’s website already has “strong existing sales and sales capacity,” and the business is “confident” it can further raise awareness of the brand worldwide.
REV claims it’s successfully 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 very first and second quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anyone aiming to grab tech basics. For a long period of time, that indicated real radio components, but wound up consisting of lots of electronic toys (one Edge editor fondly remembers his Armatron) and ultimately phones. Its fortunes decreased vastly as online shopping showed up, and the business declared personal bankruptcy twice in the past five years. RadioShack still licenses its name to third-party “licensed” shops and sells top quality items within some locations of HobbyTown, a crafts retailer– comparable to how you can still discover “Sharper Image” products at Kohl’s although that merchant shut its physical doors over a years earlier. REV didn’t say whether those RadioShack licenses would stick around. Radioshack Citadel
REV states it will “quickly relaunch” RadioShack’s site. For those of you still clinging on to fond memories of the shop, there’ll be a familiar enough place to go when you want to purchase expensive HDMI cable televisions and knockoff earphones.