RadioShack’s shambling remains were provided another shock of life today. The Fall Of Radioshack… when they were bought by another company that plans to relaunch the once-great merchant as an online-focused brand name.
The store’s remains were purchased by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brands from other faded retail giants too, including Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV says RadioShack’s site already has “strong existing sales and sales potential,” and the company is “positive” it can further raise awareness of the brand internationally.
REV declares it’s successfully turned around other business it’s released as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its revenue 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 aiming to grab tech basics. For a very long time, that implied real radio components, however ended up consisting of lots of electronic toys (one Brink editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined vastly as online shopping got here, and the business applied for bankruptcy twice in the past five years. RadioShack still licenses its name to third-party “authorized” stores and sells top quality items within some areas 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 years ago. REV didn’t state whether those RadioShack licenses would remain. The Fall Of Radioshack
REV says it will “soon relaunch” RadioShack’s site. So 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 pricey HDMI cables and knockoff earphones.