RadioShack’s shambling remains were given another shock of life today. Receptor Multimedia Radioshack 81245… when they were acquired by another business that plans to relaunch the once-great retailer as an online-focused brand.
The store’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 too, consisting of Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV states RadioShack’s site 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 business it’s released as online brands. The Wall Street Journal reported that Dressbarn more than doubled its income in between the 2nd and very first quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anyone seeking to get tech essentials. For a long time, that meant real radio parts, however wound up consisting of great deals of electronic toys (one Brink editor fondly remembers his Armatron) and ultimately phones. Its fortunes decreased significantly as online shopping got here, and the company applied for insolvency twice in the past 5 years. RadioShack still certifies its name to third-party “licensed” shops and sells top quality items within some areas of HobbyTown, a crafts merchant– similar to how you can still find “Sharper Image” products at Kohl’s despite the fact that that merchant shut its physical doors over a years earlier. REV didn’t state whether those RadioShack licenses would stick around. Receptor Multimedia Radioshack 81245
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 enough place to go when you desire to buy pricey HDMI cables and knockoff headphones.