RadioShack’s shambling remains were given another shock of life today. Radioshack Rc… when they were bought by another company that plans to relaunch the once-great merchant as an online-focused brand.
The store’s remains were bought by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brand names from other faded retail giants too, consisting of Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV says RadioShack’s site already has “strong existing sales and sales potential,” and the company is “positive” it can further raise awareness of the brand name internationally.
REV declares it’s effectively reversed other companies it’s released as online brands. The Wall Street Journal reported that Dressbarn more than doubled its revenue 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 get tech essentials. For a long time, that suggested real radio parts, however ended up including great deals of electronic toys (one Verge editor fondly remembers his Armatron) and eventually phones. Its fortunes decreased significantly as online shopping got here, and the company declared insolvency two times in the past 5 years. RadioShack still licenses its name to third-party “licensed” shops and sells top quality items within some places of HobbyTown, a crafts seller– comparable to how you can still discover “Sharper Image” items at Kohl’s even though that retailer shut its physical doors over a years back. REV didn’t state whether those RadioShack licenses would stay. Radioshack Rc
REV states it will “soon relaunch” RadioShack’s website. For those of you still sticking on to fond memories of the store, there’ll be a familiar adequate location to go when you desire to purchase expensive HDMI cable televisions and knockoff headphones.