RadioShack’s shambling remains were given another jolt of life today. Radioshack Miguel Hidalgo… when they were bought by another business that plans to relaunch the once-great retailer as an online-focused brand.
The shop’s remains were bought 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 Product, Dressbarn, and more. REV states RadioShack’s website already has “strong existing sales and sales capacity,” and the company is “positive” it can further raise awareness of the brand internationally.
REV declares it’s successfully turned around other business it’s introduced as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its income in 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 anyone looking to grab tech basics. For a very long time, that indicated real radio parts, but wound up including lots of electronic toys (one Verge editor fondly remembers his Armatron) and eventually phones. Its fortunes declined greatly as online shopping arrived, and the company filed for personal bankruptcy two times in the past 5 years. RadioShack still certifies its name to third-party “authorized” stores and sells top quality items within some areas of HobbyTown, a crafts seller– similar to how you can still discover “Sharper Image” items at Kohl’s although that merchant shut its physical doors over a decade earlier. REV didn’t state whether those RadioShack licenses would stay. Radioshack Miguel Hidalgo
REV says it will “quickly relaunch” RadioShack’s site. So for those of you still sticking on to fond memories of the store, there’ll be a familiar adequate place to go when you wish to purchase expensive HDMI cables and knockoff headphones.