RadioShack’s shambling remains were provided another shock of life today. Radioshack News 2017… when they were purchased by another company that plans to relaunch the once-great merchant as an online-focused brand.
The shop’s remains were purchased by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brand names from other faded retail giants as well, including Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV says RadioShack’s website already has “strong existing sales and sales potential,” and the company is “positive” it can further raise awareness of the brand name globally.
REV declares it’s effectively reversed other business it’s released as online brands. The Wall Street Journal reported that Dressbarn more than doubled its earnings between the 2nd and first quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anybody wanting to grab tech fundamentals. For a long time, that suggested actual radio elements, but ended up including great deals of electronic toys (one Brink editor fondly remembers his Armatron) and eventually phones. Its fortunes decreased vastly as online shopping got here, and the business filed for insolvency two times in the past 5 years. RadioShack still accredits its name to third-party “licensed” stores and sells top quality products within some areas of HobbyTown, a crafts retailer– similar to how you can still discover “Sharper Image” items at Kohl’s even though that seller shut its physical doors over a decade earlier. REV didn’t say whether those RadioShack licenses would stick around. Radioshack News 2017
REV says 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 sufficient place to go when you want to buy overpriced HDMI cable televisions and knockoff earphones.