RadioShack’s shambling remains were given another jolt of life today. What Radioshack Stores Are Closing… when they were bought by another company that prepares 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 also, consisting of Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV says RadioShack’s site already has “strong existing sales and sales capacity,” and the company is “confident” it can further raise awareness of the brand name 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 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 looking to grab tech basics. For a very long time, that implied actual radio parts, however wound up consisting of lots of electronic toys (one Verge editor fondly remembers his Armatron) and eventually phones. Its fortunes decreased greatly as online shopping arrived, and the company applied for insolvency twice in the past 5 years. RadioShack still licenses its name to third-party “licensed” stores and sells top quality products within some locations of HobbyTown, a crafts merchant– similar to how you can still find “Sharper Image” products at Kohl’s despite the fact that that seller shut its physical doors over a decade earlier. REV didn’t state whether those RadioShack licenses would stick around. What Radioshack Stores Are Closing
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 adequate location to go when you want to purchase pricey HDMI cable televisions and knockoff earphones.