Retail Ecommerce Ventures, a company that buys and resurrects old brands as e-commerce sites, has purchased a number of global assets from RadioShack, bringing the defunct brand back into the limelight.
According to a statement, REV has purchased the assets for an undisclosed amount and is considering bringing back some beloved brands from RadioShack. The company plans to restart RadioShack.com in time for its 100th anniversary next year.
“We have been impressed with the strong sales and sales potential that exists for Radioshack.com and related websites around the world, including the United States, Canada, India, Australia, Europe and China.” , said Tai Lopez, co-founder of REV. “Our approach builds on the existing strength of extraordinary brands such as RadioShack and supports our mission to transform these beloved entities into Internet-first businesses.
REV also owns Pier 1 Imports, Dressbarn, and Franklin Mint assets, all of which are at least familiar to the Baby Boomer / early Gen X cohort, many of whom probably remember these brands. RadioShack, founded in 1921 in Boston, was once famous for its Tandy computers and drum club that allow budding DIY enthusiasts to get 9 volts and D cells for free on every visit. They started out as a source of HAM radio parts and electronics and eventually focused more on cell phones, clock radios, and other fast-paced gadgets.
RadioShack is gone bankruptcy twice, once in 2015, then again in 2017. The company has fought fiercely against Amazon and Best Buy as its once-ubiquitous stores across the country closed at the end of the last decade.
“REV has purchased the rights to the RadioShack brand in the United States, Canada, India, Australia, Europe and China, as well as related websites. REV also acquired the patents and private labels from RadioShack, ”said a spokesperson for the company. According to le journal Wall Street, it also has the slogan “You have questions, we have answers”, a motto created to fight the Best Buy Geek Squad in 1994.