RadioShack’s shambling remains were given another shock of life today. Radioshack Texcoco… when they were acquired by another company that plans to relaunch the once-great merchant as an online-focused brand.
The shop’s remains were acquired by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brands from other faded retail giants also, consisting of Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV says RadioShack’s site currently has “strong existing sales and sales potential,” and the business is “positive” it can further raise awareness of the brand internationally.
REV declares it’s effectively turned around other companies it’s introduced as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its earnings in between the first and second quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anybody looking to grab tech basics. For a long period of time, that suggested real radio elements, however wound up including lots of electronic toys (one Edge editor fondly remembers his Armatron) and ultimately phones. Its fortunes decreased greatly as online shopping showed up, and the company filed for insolvency twice in the past 5 years. RadioShack still licenses its name to third-party “licensed” shops and sells branded items within some locations of HobbyTown, a crafts merchant– comparable to how you can still discover “Sharper Image” items at Kohl’s although that retailer shut its physical doors over a years back. REV didn’t say whether those RadioShack licenses would stick around. Radioshack Texcoco
REV states it will “quickly relaunch” RadioShack’s site. So for those of you still clinging on to fond memories of the store, there’ll be a familiar adequate location to go when you wish to buy pricey HDMI cables and knockoff earphones.