RadioShack’s shambling remains were provided another jolt of life today. Radioshack Update… when they were acquired by another company that plans to relaunch the once-great retailer as an online-focused brand name.
The store’s remains were acquired by Retail Ecommerce Ventures (REV), a startup 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 site already has “strong existing sales and sales capacity,” and the business is “confident” it can even more raise awareness of the brand name internationally.
REV declares it’s effectively turned around other companies it’s launched as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its earnings between the second and very first quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anybody wanting to get tech essentials. For a long period of time, that indicated actual radio components, but ended up including lots of electronic toys (one Verge editor fondly remembers his Armatron) and eventually phones. Its fortunes declined vastly as online shopping showed up, and the business filed for personal bankruptcy twice in the past five years. RadioShack still licenses its name to third-party “authorized” shops and offers top quality items within some areas of HobbyTown, a crafts merchant– similar to how you can still find “Sharper Image” items at Kohl’s despite the fact that that merchant shut its physical doors over a decade earlier. REV didn’t say whether those RadioShack licenses would stick around. Radioshack Update
REV says it will “soon relaunch” RadioShack’s site. For those of you still sticking 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.