RadioShack’s shambling remains were provided another jolt of life today. Team Radioshack 2013… when they were purchased by another company that prepares to relaunch the once-great merchant as an online-focused brand.
The shop’s remains were purchased by Retail Ecommerce Ventures (REV), a start-up 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 globally.
REV claims 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 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 wanting to get tech fundamentals. For a long period of time, that meant actual radio components, 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 got here, and the company applied for bankruptcy two times in the past 5 years. RadioShack still accredits its name to third-party “authorized” shops and sells branded items within some places of HobbyTown, a crafts retailer– comparable to how you can still discover “Sharper Image” products at Kohl’s even though that retailer shut its physical doors over a decade ago. REV didn’t say whether those RadioShack licenses would stick around. Team Radioshack 2013
REV states it will “quickly 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 costly HDMI cable televisions and knockoff headphones.