RadioShack’s shambling remains were provided another jolt of life today. Radioshack Xbox One S… when they were purchased by another company that plans to relaunch the once-great retailer as an online-focused brand name.
The shop’s remains were purchased by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brand names from other faded retail giants too, including Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV says RadioShack’s website already has “strong existing sales and sales capacity,” and the company is “confident” it can further raise awareness of the brand name internationally.
REV declares it’s successfully turned around other companies it’s released as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its earnings between the second and first quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anybody looking to get tech essentials. For a very long time, that suggested actual radio components, but ended up including lots of electronic toys (one Verge editor fondly remembers his Armatron) and eventually phones. Its fortunes declined significantly as online shopping showed up, and the company filed for insolvency two times in the past 5 years. RadioShack still certifies its name to third-party “licensed” stores and sells top quality items within some areas of HobbyTown, a crafts retailer– similar to how you can still discover “Sharper Image” products at Kohl’s despite the fact that that merchant shut its physical doors over a years back. REV didn’t state whether those RadioShack licenses would stay. Radioshack Xbox One S
REV says it will “soon relaunch” RadioShack’s website. For those of you still sticking on to fond memories of the shop, there’ll be a familiar sufficient place to go when you desire to purchase overpriced HDMI cable televisions and knockoff earphones.