RadioShack’s shambling remains were offered another jolt of life today. Radioshack Philadelphia Aramingo… when they were acquired by another business that plans to relaunch the once-great retailer as an online-focused brand.
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, including Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV states RadioShack’s website currently has “strong existing sales and sales potential,” and the company is “positive” it can further raise awareness of the brand name globally.
REV claims it’s successfully reversed other business it’s introduced as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its profits in between the very first and second quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anyone seeking to grab tech essentials. For a long time, that indicated actual radio elements, however ended up consisting of great deals of electronic toys (one Brink editor fondly remembers his Armatron) and ultimately phones. Its fortunes decreased vastly as online shopping got here, and the company filed for personal bankruptcy twice in the past 5 years. RadioShack still accredits its name to third-party “authorized” shops and sells top quality items within some locations of HobbyTown, a crafts retailer– similar to how you can still discover “Sharper Image” items at Kohl’s despite the fact that that merchant shut its physical doors over a years ago. REV didn’t say whether those RadioShack licenses would stay. Radioshack Philadelphia Aramingo
REV says it will “quickly relaunch” RadioShack’s website. So for those of you still sticking on to fond memories of the store, there’ll be a familiar enough place to go when you wish to purchase pricey HDMI cable televisions and knockoff earphones.