RadioShack’s shambling remains were offered another shock of life today. Will Radioshack… when they were acquired by another company that prepares to relaunch the once-great seller as an online-focused brand.
The store’s remains were acquired by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brands from other faded retail giants also, including Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV states RadioShack’s website already 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 companies it’s released as online brands. The Wall Street Journal reported that Dressbarn more than doubled its profits in between the first and 2nd quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anyone looking to grab tech essentials. For a very long time, that meant real radio components, but wound up consisting of lots of electronic toys (one Verge editor fondly remembers his Armatron) and eventually phones. Its fortunes decreased vastly as online shopping got here, and the business applied for personal bankruptcy two times in the past 5 years. RadioShack still accredits its name to third-party “authorized” stores and sells top quality items within some locations of HobbyTown, a crafts seller– comparable to how you can still find “Sharper Image” products at Kohl’s although that retailer shut its physical doors over a decade ago. REV didn’t say whether those RadioShack licenses would remain. Will Radioshack
REV states it will “soon relaunch” RadioShack’s site. For those of you still sticking on to fond memories of the shop, there’ll be a familiar sufficient place to go when you desire to purchase pricey HDMI cable televisions and knockoff headphones.