RadioShack’s shambling remains were provided another shock of life today. Radioshack Toreo… when they were bought by another business that plans to relaunch the once-great seller as an online-focused brand name.
The store’s remains were bought by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brands from other faded retail giants too, including Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV says RadioShack’s site already has “strong existing sales and sales potential,” and the business is “confident” it can further raise awareness of the brand worldwide.
REV claims it’s effectively turned around other companies it’s launched as online brands. The Wall Street Journal reported that Dressbarn more than doubled its earnings in between the second and first quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anyone wanting to grab tech essentials. For a long period of time, that suggested actual radio components, however wound up including lots of electronic toys (one Edge editor fondly remembers his Armatron) and eventually phones. Its fortunes declined vastly as online shopping arrived, and the company applied for bankruptcy two times in the past 5 years. RadioShack still licenses its name to third-party “licensed” stores and offers branded items within some areas of HobbyTown, a crafts merchant– similar to how you can still find “Sharper Image” items at Kohl’s although that retailer shut its physical doors over a decade back. REV didn’t say whether those RadioShack licenses would stick around. Radioshack Toreo
REV says it will “soon relaunch” RadioShack’s site. So for those of you still clinging on to fond memories of the shop, there’ll be a familiar enough location to go when you want to buy pricey HDMI cable televisions and knockoff earphones.