RadioShack’s shambling remains were provided another jolt of life today. Radioshack Cor… when they were purchased by another company that prepares to relaunch the once-great merchant as an online-focused brand name.
The shop’s remains were purchased by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brands from other faded retail giants as well, including Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV states RadioShack’s website already has “strong existing sales and sales capacity,” and the business is “positive” it can further raise awareness of the brand internationally.
REV claims it’s successfully reversed other business it’s launched as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its revenue between the very first and second quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anybody looking to grab tech basics. For a long period of time, that indicated actual radio elements, however wound up consisting of great deals of electronic toys (one Edge editor fondly remembers his Armatron) and eventually phones. Its fortunes declined greatly as online shopping got here, and the company filed for bankruptcy twice in the past 5 years. RadioShack still licenses its name to third-party “authorized” shops and sells branded items within some locations of HobbyTown, a crafts merchant– similar to how you can still find “Sharper Image” products at Kohl’s even though that merchant shut its physical doors over a years back. REV didn’t say whether those RadioShack licenses would stay. Radioshack Cor
REV states it will “quickly relaunch” RadioShack’s website. For those of you still clinging on to fond memories of the shop, there’ll be a familiar adequate place to go when you desire to buy costly HDMI cables and knockoff headphones.