RadioShack’s shambling remains were provided another shock of life today. What Kind Of Retail Store Is Radioshack… when they were acquired by another business that plans to relaunch the once-great merchant as an online-focused brand.
The shop’s remains were acquired by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brands from other faded retail giants as well, consisting of Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV states RadioShack’s site currently has “strong existing sales and sales capacity,” and the business is “confident” it can even more raise awareness of the brand worldwide.
REV claims it’s successfully reversed other business it’s introduced 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 became a retail staple in the ’80s and ’90s for anybody looking to grab tech essentials. For a very long time, that implied actual radio components, but wound up including lots of electronic toys (one Verge editor fondly remembers his Armatron) and eventually phones. Its fortunes decreased greatly as online shopping showed up, and the company applied for bankruptcy twice in the past five years. RadioShack still licenses its name to third-party “licensed” stores and sells branded items within some locations of HobbyTown, a crafts seller– similar to how you can still find “Sharper Image” items at Kohl’s even though that seller shut its physical doors over a decade ago. REV didn’t say whether those RadioShack licenses would remain. What Kind Of Retail Store Is Radioshack
REV states it will “quickly relaunch” RadioShack’s site. So for those of you still sticking on to fond memories of the store, there’ll be a familiar adequate place to go when you wish to buy pricey HDMI cables and knockoff headphones.