RadioShack’s shambling remains were offered another shock of life today. Radioshack Last Day… when they were purchased by another company that plans to relaunch the once-great retailer 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 too, consisting of Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV states RadioShack’s website already has “strong existing sales and sales potential,” and the company is “positive” it can even more raise awareness of the brand name worldwide.
REV claims it’s successfully turned around other companies it’s launched as online brands. The Wall Street Journal reported that Dressbarn more than doubled its earnings 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 anybody aiming to grab tech essentials. For a long period of time, that suggested real radio parts, but ended up including lots of electronic toys (one Edge editor fondly remembers his Armatron) and eventually phones. Its fortunes declined vastly as online shopping showed up, and the business filed for insolvency twice in the past 5 years. RadioShack still licenses its name to third-party “authorized” shops and sells top quality products within some places of HobbyTown, a crafts merchant– similar to how you can still find “Sharper Image” items at Kohl’s although that seller shut its physical doors over a decade back. REV didn’t state whether those RadioShack licenses would remain. Radioshack Last Day
REV states it will “quickly relaunch” RadioShack’s site. For those of you still sticking on to fond memories of the shop, there’ll be a familiar adequate place to go when you desire to purchase expensive HDMI cables and knockoff earphones.