RadioShack’s shambling remains were offered another shock of life today. Radioshack Lincoln… 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 brands from other faded retail giants as well, consisting of Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV says 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 worldwide.
REV claims it’s successfully turned around other companies it’s released as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its earnings 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 anybody aiming to get tech essentials. For a long period of time, that meant real radio elements, however ended up consisting of lots of electronic toys (one Verge editor fondly remembers his Armatron) and ultimately phones. Its fortunes decreased significantly as online shopping showed up, and the company applied for bankruptcy two times in the past five years. RadioShack still licenses its name to third-party “authorized” stores and sells branded products within some areas of HobbyTown, a crafts retailer– comparable to how you can still discover “Sharper Image” items at Kohl’s although that retailer shut its physical doors over a years earlier. REV didn’t state whether those RadioShack licenses would stay. Radioshack Lincoln
REV says it will “quickly relaunch” RadioShack’s website. So for those of you still clinging on to fond memories of the shop, there’ll be a familiar adequate location to go when you wish to purchase costly HDMI cable televisions and knockoff headphones.