RadioShack’s shambling remains were offered another jolt of life today. Radioshack Nokia… when they were purchased by another company that prepares to relaunch the once-great seller as an online-focused brand name.
The shop’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 also, including Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV states RadioShack’s site currently has “strong existing sales and sales capacity,” and the business is “confident” it can even more raise awareness of the brand worldwide.
REV declares it’s successfully turned around other business it’s launched as online brands. The Wall Street Journal reported that Dressbarn more than doubled its revenue in between the first and 2nd quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anybody seeking to grab tech fundamentals. For a long period of time, that meant real radio parts, but wound up consisting of great deals of electronic toys (one Edge editor fondly remembers his Armatron) and eventually phones. Its fortunes decreased vastly as online shopping got here, and the company applied for bankruptcy twice in the past 5 years. RadioShack still certifies its name to third-party “authorized” stores and sells top quality items within some places of HobbyTown, a crafts merchant– similar to how you can still discover “Sharper Image” products at Kohl’s although that merchant shut its physical doors over a years earlier. REV didn’t say whether those RadioShack licenses would stick around. Radioshack Nokia
REV says it will “soon relaunch” RadioShack’s site. So for those of you still clinging on to fond memories of the store, there’ll be a familiar sufficient place to go when you want to purchase costly HDMI cables and knockoff earphones.