RadioShack’s shambling remains were given another shock of life today. Who Will Buy Radioshack… when they were bought by another business that plans to relaunch the once-great retailer 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 Goods, Dressbarn, and more. REV says RadioShack’s site already has “strong existing sales and sales capacity,” and the business is “positive” it can even more raise awareness of the brand name globally.
REV declares it’s effectively turned around other companies it’s launched as online brands. The Wall Street Journal reported that Dressbarn more than doubled its revenue 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 seeking to get tech basics. For a long time, that indicated actual radio components, however ended 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 arrived, and the business applied for personal bankruptcy two times in the past 5 years. RadioShack still certifies its name to third-party “authorized” stores and sells branded items within some places of HobbyTown, a crafts merchant– similar to how you can still find “Sharper Image” products at Kohl’s even though that merchant shut its physical doors over a decade ago. REV didn’t say whether those RadioShack licenses would stick around. Who Will Buy Radioshack
REV says it will “soon relaunch” RadioShack’s site. So for those of you still clinging on to fond memories of the shop, there’ll be a familiar sufficient place to go when you want to purchase expensive HDMI cables and knockoff earphones.