RadioShack’s shambling remains were provided another shock of life today. Radioshack Press Release… when they were acquired by another company that plans to relaunch the once-great seller as an online-focused brand.
The store’s remains were purchased by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brands from other faded retail giants too, consisting of Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV says RadioShack’s website already has “strong existing sales and sales potential,” and the business is “confident” it can further raise awareness of the brand internationally.
REV declares it’s effectively turned around other business it’s introduced as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its income between the 2nd and 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 essentials. For a long time, that meant actual radio elements, however wound up consisting of great deals of electronic toys (one Verge editor fondly remembers his Armatron) and ultimately phones. Its fortunes decreased significantly as online shopping got here, and the business declared personal bankruptcy two times in the past 5 years. RadioShack still licenses its name to third-party “authorized” stores and sells top quality items within some locations of HobbyTown, a crafts seller– comparable to how you can still discover “Sharper Image” items at Kohl’s although that merchant shut its physical doors over a years back. REV didn’t state whether those RadioShack licenses would stick around. Radioshack Press Release
REV states it will “soon relaunch” RadioShack’s website. For those of you still sticking on to fond memories of the shop, there’ll be a familiar sufficient place to go when you desire to purchase expensive HDMI cables and knockoff headphones.