RadioShack’s shambling remains were given another shock of life today. Radioshack – Closed… when they were bought by another business that plans to relaunch the once-great merchant as an online-focused brand name.
The store’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, including Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV says RadioShack’s website currently has “strong existing sales and sales capacity,” and the company is “confident” it can even more raise awareness of the brand internationally.
REV declares it’s successfully reversed other business it’s introduced as online brands. The Wall Street Journal reported that Dressbarn more than doubled its profits in between the second and very first quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anyone seeking to grab tech fundamentals. For a very long time, that suggested actual radio components, but ended up including lots of electronic toys (one Brink editor fondly remembers his Armatron) and eventually phones. Its fortunes declined greatly as online shopping showed up, and the company applied for insolvency two times in the past 5 years. RadioShack still licenses its name to third-party “authorized” stores and sells branded items within some areas of HobbyTown, a crafts retailer– comparable to how you can still find “Sharper Image” products at Kohl’s despite the fact that that retailer shut its physical doors over a years back. REV didn’t state whether those RadioShack licenses would stay. Radioshack – Closed
REV says it will “soon relaunch” RadioShack’s site. So for those of you still clinging on to fond memories of the shop, there’ll be a familiar enough place to go when you wish to purchase pricey HDMI cables and knockoff headphones.