RadioShack’s shambling remains were offered another jolt of life today. Radioshack Egypt Mobiles… when they were acquired by another business that plans to relaunch the once-great seller as an online-focused brand name.
The store’s remains were purchased 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 Goods, Dressbarn, and more. REV says RadioShack’s site already has “strong existing sales and sales potential,” and the company is “positive” it can further raise awareness of the brand worldwide.
REV declares it’s effectively reversed other companies it’s launched as online brands. The Wall Street Journal reported that Dressbarn more than doubled its income in between the 2nd and very first quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anyone seeking to get tech fundamentals. For a very long time, that meant actual radio parts, however ended up consisting of lots of electronic toys (one Edge editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined greatly as online shopping got here, and the company declared personal bankruptcy twice in the past 5 years. RadioShack still certifies its name to third-party “licensed” stores and sells top quality products within some areas of HobbyTown, a crafts retailer– comparable to how you can still find “Sharper Image” products at Kohl’s even though that merchant shut its physical doors over a decade back. REV didn’t say whether those RadioShack licenses would remain. Radioshack Egypt Mobiles
REV states it will “quickly relaunch” RadioShack’s website. For those of you still sticking on to fond memories of the store, there’ll be a familiar adequate place to go when you want to buy pricey HDMI cable televisions and knockoff headphones.