The dilapidated remains of RadioShack received another life today when they were purchased by another company that plans to revive the once great retailer as an online focused brand.
The remnants of the store were purchased by Retail Ecommerce Ventures (REV), a startup founded in 2019 that grabs brands from other faded retail giants, including Pier 1, Modell Sporting Goods, Dressbarn and more. REV says RadioShack’s website already has “strong existing sales and sales potential” and the company is “confident” that it can further raise brand awareness internationally.
REV claims to have successfully turned other companies, which it launched as online brands. The Wall Street Journal reported that Dressbarn more than doubled its revenue between the first and second quarters of 2020.
RadioShack was founded in 1
REV says it will “restart” the RadioShack website soon. So for those of you who still cling to the fond memories of the store, there will be enough familiar place to go when you want to buy expensive HDMI cables and headphones.