RadioShack’s shambling remains were given another jolt of life today. Why Radioshack Closed… when they were acquired by another business that prepares to relaunch the once-great seller as an online-focused brand name.
The store’s remains were bought by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brand names from other faded retail giants too, including Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV states RadioShack’s site currently has “strong existing sales and sales capacity,” and the company is “confident” it can even more raise awareness of the brand name worldwide.
REV declares it’s effectively turned around other business it’s introduced as online brands. The Wall Street Journal reported that Dressbarn more than doubled its profits in between the second and first quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anyone wanting to grab tech essentials. For a long period of time, that meant real radio components, however ended up consisting of lots of electronic toys (one Verge editor fondly remembers his Armatron) and ultimately phones. Its fortunes decreased vastly as online shopping showed up, and the company filed for personal bankruptcy two times in the past five years. RadioShack still certifies its name to third-party “authorized” stores and sells top quality items within some locations of HobbyTown, a crafts merchant– similar to how you can still discover “Sharper Image” items at Kohl’s although that merchant shut its physical doors over a years ago. REV didn’t say whether those RadioShack licenses would stick around. Why Radioshack Closed
REV says it will “quickly relaunch” RadioShack’s site. So for those of you still sticking on to fond memories of the shop, there’ll be a familiar sufficient location to go when you want to buy expensive HDMI cable televisions and knockoff earphones.