RadioShack’s shambling remains were offered another shock of life today. Xbox Radioshack… when they were acquired by another business that plans to relaunch the once-great retailer as an online-focused brand name.
The store’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, including Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV says RadioShack’s website already has “strong existing sales and sales potential,” and the business is “positive” it can further raise awareness of the brand name globally.
REV claims it’s successfully turned around other business it’s released as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its profits between the very first and second quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anyone wanting to get tech fundamentals. For a long time, that suggested actual radio elements, however wound up consisting of lots of electronic toys (one Edge editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined vastly as online shopping got here, and the company applied for personal bankruptcy two times in the past 5 years. RadioShack still accredits its name to third-party “licensed” shops and offers top quality items within some areas of HobbyTown, a crafts seller– comparable to how you can still find “Sharper Image” items at Kohl’s although that merchant shut its physical doors over a years back. REV didn’t say whether those RadioShack licenses would remain. Xbox Radioshack
REV states it will “soon relaunch” RadioShack’s website. For those of you still sticking on to fond memories of the shop, there’ll be a familiar sufficient place to go when you want to buy overpriced HDMI cable televisions and knockoff headphones.