RadioShack’s shambling remains were provided another jolt of life today. Radioshack Locales… when they were bought by another company that prepares to relaunch the once-great retailer as an online-focused brand.
The shop’s remains were bought by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brand names from other faded retail giants also, consisting of Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV says RadioShack’s website currently has “strong existing sales and sales potential,” and the company is “positive” it can further raise awareness of the brand internationally.
REV declares it’s effectively turned around other business it’s introduced as online brands. The Wall Street Journal reported that Dressbarn more than doubled its revenue 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 anybody looking to get tech fundamentals. For a long period of time, that meant actual radio elements, however ended up including lots of electronic toys (one Edge editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined greatly as online shopping arrived, 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– comparable to how you can still find “Sharper Image” items at Kohl’s although that seller shut its physical doors over a decade earlier. REV didn’t say whether those RadioShack licenses would stay. Radioshack Locales
REV says it will “quickly relaunch” RadioShack’s site. For those of you still sticking on to fond memories of the store, there’ll be a familiar adequate place to go when you desire to purchase pricey HDMI cable televisions and knockoff earphones.