RadioShack’s shambling remains were provided another jolt of life today. Radioshack Yahoo Finance… when they were purchased by another company that plans to relaunch the once-great seller as an online-focused brand.
The shop’s remains were bought by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brand names from other faded retail giants as well, consisting of Pier 1, Modell’s Sporting Goods, 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 globally.
REV declares it’s effectively reversed other business it’s launched as online brands. The Wall Street Journal reported that Dressbarn more than doubled its revenue in between the very first and second quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anybody seeking to grab tech fundamentals. For a long time, that suggested actual radio parts, but wound up including great deals of electronic toys (one Edge editor fondly remembers his Armatron) and eventually phones. Its fortunes declined greatly as online shopping got here, and the business declared personal bankruptcy two times in the past five years. RadioShack still certifies its name to third-party “authorized” shops and offers branded products within some locations of HobbyTown, a crafts retailer– similar to how you can still find “Sharper Image” items at Kohl’s although that merchant shut its physical doors over a decade earlier. REV didn’t state whether those RadioShack licenses would stay. Radioshack Yahoo Finance
REV states 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 sufficient place to go when you want to purchase expensive HDMI cable televisions and knockoff earphones.