RadioShack’s shambling remains were provided another jolt of life today. Radioshack Vr… when they were purchased by another company that prepares to relaunch the once-great retailer as an online-focused brand name.
The shop’s remains were acquired by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brand names from other faded retail giants as well, consisting of Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV says RadioShack’s website currently has “strong existing sales and sales capacity,” and the business is “confident” it can further raise awareness of the brand name globally.
REV declares it’s successfully turned around other companies it’s launched as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its income in between the very first and 2nd quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anyone aiming to grab tech basics. For a very long time, that suggested actual radio elements, however ended up consisting of great deals of electronic toys (one Verge editor fondly remembers his Armatron) and eventually phones. Its fortunes declined vastly as online shopping arrived, and the company declared insolvency two times in the past five years. RadioShack still certifies its name to third-party “licensed” shops and offers branded products within some areas of HobbyTown, a crafts retailer– similar to how you can still discover “Sharper Image” items at Kohl’s although that retailer shut its physical doors over a decade back. REV didn’t state whether those RadioShack licenses would remain. Radioshack Vr
REV says it will “quickly relaunch” RadioShack’s site. For those of you still clinging on to fond memories of the store, there’ll be a familiar adequate location to go when you want to buy pricey HDMI cables and knockoff headphones.