RadioShack’s shambling remains were given another shock of life today. Why Radioshack Is Closing… when they were acquired by another business that prepares to relaunch the once-great merchant 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 also, 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 business is “confident” it can further raise awareness of the brand name internationally.
REV declares it’s successfully turned around other business it’s introduced as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its profits 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 long time, that implied actual radio components, but wound up including great deals of electronic toys (one Brink editor fondly remembers his Armatron) and eventually phones. Its fortunes declined vastly as online shopping showed up, and the company applied for bankruptcy two times in the past five years. RadioShack still accredits its name to third-party “licensed” stores and sells branded products within some areas of HobbyTown, a crafts merchant– comparable to how you can still discover “Sharper Image” products at Kohl’s even though that seller shut its physical doors over a years earlier. REV didn’t say whether those RadioShack licenses would remain. Why Radioshack Is Closing
REV says it will “quickly relaunch” RadioShack’s website. For those of you still sticking on to fond memories of the shop, there’ll be a familiar adequate place to go when you desire to buy costly HDMI cable televisions and knockoff earphones.